American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Free Report)’s share price gapped up before the market opened on Friday . The stock had previously closed at $6.50, but opened at $6.95. American Axle & Manufacturing shares last traded at $7.16, with a volume of 463,034 shares traded.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on AXL. Citigroup cut their price target on shares of American Axle & Manufacturing from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, October 11th. StockNews.com downgraded American Axle & Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, October 1st. UBS Group dropped their price target on American Axle & Manufacturing from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, October 10th. Finally, Morgan Stanley reduced their price objective on American Axle & Manufacturing from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, September 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.63.
American Axle & Manufacturing Trading Up 11.4 %
American Axle & Manufacturing (NYSE:AXL – Get Free Report) last released its earnings results on Friday, November 3rd. The auto parts company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.49 billion. American Axle & Manufacturing had a net margin of 0.72% and a return on equity of 6.07%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. Equities analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.
In other news, VP Terri M. Kemp sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $8.00, for a total value of $320,000.00. Following the transaction, the vice president now owns 216,961 shares of the company’s stock, valued at approximately $1,735,688. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.
Institutional Trading of American Axle & Manufacturing
Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of American Axle & Manufacturing by 60,578.4% in the second quarter. FMR LLC now owns 4,169,820 shares of the auto parts company’s stock valued at $31,398,000 after purchasing an additional 4,162,948 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of American Axle & Manufacturing in the first quarter valued at $22,541,000. Goldman Sachs Group Inc. grew its stake in shares of American Axle & Manufacturing by 804.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,835,148 shares of the auto parts company’s stock valued at $13,819,000 after buying an additional 1,632,158 shares in the last quarter. Norges Bank bought a new position in shares of American Axle & Manufacturing in the fourth quarter valued at $7,125,000. Finally, Fuller & Thaler Asset Management Inc. boosted its position in American Axle & Manufacturing by 22.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,930 shares of the auto parts company’s stock worth $30,729,000 after purchasing an additional 715,970 shares during the period. 91.41% of the stock is currently owned by institutional investors and hedge funds.
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 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.
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