American Axle & Manufacturing (NYSE:AXL) Stock Rating Upgraded by Wolfe Research

American Axle & Manufacturing (NYSE:AXL) was upgraded by equities researchers at Wolfe Research to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Separately, Bank of America boosted their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and a consensus price target of $7.90.

American Axle & Manufacturing Stock Performance

Shares of AXL opened at $6.08 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. The firm has a market cap of $714.72 million, a PE ratio of -86.86 and a beta of 2.04. American Axle & Manufacturing has a 12 month low of $5.99 and a 12 month high of $8.99. The stock has a fifty day moving average price of $6.70 and a 200-day moving average price of $7.06.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. American Axle & Manufacturing’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.12 EPS. Equities research analysts predict that American Axle & Manufacturing will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP grew its position in American Axle & Manufacturing by 553.5% during the first quarter. Quantbot Technologies LP now owns 88,887 shares of the auto parts company’s stock valued at $654,000 after buying an additional 75,285 shares during the period. ProShare Advisors LLC grew its position in shares of American Axle & Manufacturing by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock valued at $170,000 after acquiring an additional 1,582 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of American Axle & Manufacturing by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,076,121 shares of the auto parts company’s stock valued at $27,101,000 after purchasing an additional 187,653 shares in the last quarter. Norges Bank acquired a new position in American Axle & Manufacturing in the 4th quarter worth about $7,024,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in American Axle & Manufacturing by 3.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,285 shares of the auto parts company’s stock worth $757,000 after purchasing an additional 2,801 shares in the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.