American Axle & Manufacturing (NYSE:AXL) Price Target Raised to $8.00

American Axle & Manufacturing (NYSE:AXL) had its target price upped by Citigroup from $7.50 to $8.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price target points to a potential upside of 5.54% from the stock’s previous close.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Monday, April 8th. UBS Group increased their price target on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.00.

American Axle & Manufacturing Stock Performance

Shares of NYSE:AXL opened at $7.58 on Monday. The company’s 50 day moving average price is $7.11 and its two-hundred day moving average price is $7.50. American Axle & Manufacturing has a 12-month low of $6.29 and a 12-month high of $9.55. The firm has a market cap of $890.95 million, a PE ratio of -108.27, a PEG ratio of 2.69 and a beta of 2.19. The company has a quick ratio of 1.31, a current ratio of 1.69 and a debt-to-equity ratio of 4.40.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, May 3rd. The auto parts company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.16. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.52 billion. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. Equities research analysts predict that American Axle & Manufacturing will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund lifted its stake in American Axle & Manufacturing by 8.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,396 shares of the auto parts company’s stock valued at $511,000 after purchasing an additional 5,455 shares during the last quarter. Empowered Funds LLC raised its stake in shares of American Axle & Manufacturing by 8.2% during the first quarter. Empowered Funds LLC now owns 461,740 shares of the auto parts company’s stock valued at $3,398,000 after acquiring an additional 34,967 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of 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 acquiring an additional 75,285 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of American Axle & Manufacturing by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock valued at $754,000 after acquiring an additional 1,370 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of American Axle & Manufacturing during the first quarter valued at $1,161,000. Institutional investors own 91.41% of the company’s stock.

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.