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

American Axle & Manufacturing (NYSE:AXL) had its target price increased by research analysts at UBS Group from $7.00 to $8.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. UBS Group’s price objective would suggest a potential upside of 5.54% from the company’s current price.

Separately, StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, American Axle & Manufacturing presently has an average rating of “Hold” and an average target price of $8.00.

American Axle & Manufacturing Trading Down 1.0 %

Shares of NYSE:AXL opened at $7.58 on Monday. The stock has a market capitalization of $890.95 million, a price-to-earnings ratio of -108.27, a PEG ratio of 2.69 and a beta of 2.19. American Axle & Manufacturing has a 1-year low of $6.29 and a 1-year high of $9.55. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.31 and a current ratio of 1.69. The company has a 50 day moving average price of $7.11 and a 200 day moving average price of $7.50.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, May 3rd. The auto parts company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.16. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. On average, research analysts anticipate that American Axle & Manufacturing will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXL. Sequoia Financial Advisors LLC acquired a new position in American Axle & Manufacturing in the 4th quarter worth approximately $14,167,000. Barclays PLC boosted its stake in shares of American Axle & Manufacturing by 522.6% during the 3rd quarter. Barclays PLC now owns 1,122,458 shares of the auto parts company’s stock valued at $8,149,000 after buying an additional 942,186 shares during the period. Norges Bank acquired a new stake in shares of American Axle & Manufacturing during the 4th quarter valued at $7,024,000. Assenagon Asset Management S.A. acquired a new stake in shares of American Axle & Manufacturing during the 3rd quarter valued at $5,095,000. Finally, Deutsche Bank AG boosted its stake in shares of American Axle & Manufacturing by 554.4% during the 3rd quarter. Deutsche Bank AG now owns 741,034 shares of the auto parts company’s stock valued at $5,380,000 after buying an additional 627,791 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

About American Axle & Manufacturing

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.