American Axle & Manufacturing (NYSE:AXL) Upgraded by Royal Bank Of Canada to Outperform Rating

Royal Bank Of Canada upgraded shares of American Axle & Manufacturing (NYSE:AXL) from a sector perform rating to an outperform rating in a report published on Tuesday morning, MarketBeat reports. The firm currently has $8.00 price objective on the auto parts company’s stock, up from their previous price objective of $6.00.

AXL has been the topic of a number of other research reports. UBS Group reaffirmed a “buy” rating on shares of American Axle & Manufacturing in a research note on Sunday, August 10th. Morgan Stanley reduced their target price on American Axle & Manufacturing from $8.00 to $7.50 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Wall Street Zen raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Stifel Nicolaus assumed coverage on American Axle & Manufacturing in a research note on Thursday, August 21st. They issued a “hold” rating and a $6.00 target price on the stock. Finally, Cowen reaffirmed a “hold” rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.64.

American Axle & Manufacturing Stock Performance

AXL opened at $5.96 on Tuesday. The stock has a market cap of $707.21 million, a P/E ratio of 17.53, a P/E/G ratio of 0.65 and a beta of 1.61. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.77 and a quick ratio of 1.40. The stock’s 50 day simple moving average is $4.95 and its 200 day simple moving average is $4.50. American Axle & Manufacturing has a 1-year low of $3.00 and a 1-year high of $7.03.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, August 8th. The auto parts company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. American Axle & Manufacturing had a return on equity of 8.90% and a net margin of 0.73%.The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the company earned $0.19 EPS. American Axle & Manufacturing’s revenue was down 5.9% on a year-over-year basis. American Axle & Manufacturing has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that American Axle & Manufacturing will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of American Axle & Manufacturing by 825.6% in the 2nd quarter. Signaturefd LLC now owns 6,979 shares of the auto parts company’s stock worth $28,000 after buying an additional 6,225 shares during the period. Lazard Asset Management LLC purchased a new position in shares of American Axle & Manufacturing in the 4th quarter worth $51,000. Ethic Inc. purchased a new position in shares of American Axle & Manufacturing in the 4th quarter worth $59,000. Riverbend Wealth Management LLC purchased a new position in shares of American Axle & Manufacturing in the 2nd quarter worth $42,000. Finally, Ground Swell Capital LLC purchased a new position in shares of American Axle & Manufacturing in the 4th quarter worth $61,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.