American Axle & Manufacturing (NYSE:AXL) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.64 and traded as high as $6.51. American Axle & Manufacturing shares last traded at $6.4720, with a volume of 1,054,441 shares.

Analyst Ratings Changes

Several brokerages recently commented on AXL. UBS Group increased their price objective on shares of American Axle & Manufacturing from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Monday, October 6th. Royal Bank Of Canada raised shares of American Axle & Manufacturing from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $6.00 to $8.00 in a report on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of American Axle & Manufacturing in a research report on Monday, December 22nd. Morgan Stanley set a $7.00 price target on American Axle & Manufacturing in a research report on Monday, December 8th. Finally, Stifel Nicolaus boosted their price target on American Axle & Manufacturing from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.08.

American Axle & Manufacturing Trading Up 0.2%

The stock has a market cap of $768.23 million, a PE ratio of 19.61 and a beta of 1.57. The company’s fifty day moving average is $6.36 and its 200-day moving average is $5.64. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.77 and a quick ratio of 1.43.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, November 7th. The auto parts company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. American Axle & Manufacturing had a net margin of 0.72% and a return on equity of 7.92%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. On average, analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. boosted its stake in shares of American Axle & Manufacturing by 12.7% during the 1st quarter. Nomura Holdings Inc. now owns 400,300 shares of the auto parts company’s stock worth $1,629,000 after acquiring an additional 45,200 shares in the last quarter. Trexquant Investment LP raised its holdings in American Axle & Manufacturing by 23.4% in the 1st quarter. Trexquant Investment LP now owns 1,081,508 shares of the auto parts company’s stock worth $4,402,000 after purchasing an additional 205,242 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in American Axle & Manufacturing in the 2nd quarter worth about $120,000. Goldman Sachs Group Inc. boosted its position in American Axle & Manufacturing by 24.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,490,388 shares of the auto parts company’s stock worth $6,066,000 after purchasing an additional 291,908 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of American Axle & Manufacturing in the first quarter valued at approximately $1,258,000. 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 (NYSE: AXL) is a global designer, engineer and manufacturer of driveline and drivetrain systems and components for light vehicles, commercial trucks and off-highway applications. The company’s core product portfolio includes axles, driveshafts, half-shafts, drive module assemblies and differential gears, as well as advanced metallic and composite structures for electric and hybrid vehicles. AAM’s capabilities also encompass system testing, rapid prototyping and precision machining to support both high-volume production and low-volume, specialty vehicle applications.

Founded in 1994 following the divestiture of the Detroit Axle Division of General Motors, American Axle & Manufacturing completed its initial public offering in 1998.