American Axle & Manufacturing (NYSE:AXL) Price Target Raised to $12.00 at Royal Bank Of Canada

American Axle & Manufacturing (NYSE:AXL) had its target price hoisted by Royal Bank Of Canada from $9.00 to $12.00 in a report published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the auto parts company’s stock.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of American Axle & Manufacturing in a research note on Monday, December 29th. Wall Street Zen raised shares of American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. UBS Group lifted their price target on shares of American Axle & Manufacturing from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, January 14th. Morgan Stanley set a $7.00 price objective on shares of American Axle & Manufacturing in a research note on Monday, December 8th. Finally, Stifel Nicolaus raised their target price on shares of American Axle & Manufacturing from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Axle & Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $8.50.

American Axle & Manufacturing Price Performance

Shares of AXL stock opened at $8.27 on Friday. The firm has a fifty day moving average of $6.77 and a two-hundred day moving average of $6.04. The firm has a market cap of $981.06 million, a P/E ratio of 25.05 and a beta of 1.58. American Axle & Manufacturing has a 1-year low of $3.00 and a 1-year high of $8.63. 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, topping analysts’ consensus estimates of $0.12 by $0.04. American Axle & Manufacturing had a return on equity of 7.92% and a net margin of 0.72%.The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts anticipate that American Axle & Manufacturing will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its position in American Axle & Manufacturing by 267.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,383 shares of the auto parts company’s stock valued at $26,000 after acquiring an additional 3,191 shares during the period. Signaturefd LLC raised its stake in shares of American Axle & Manufacturing by 825.6% during the second quarter. Signaturefd LLC now owns 6,979 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 6,225 shares in the last quarter. Riverbend Wealth Management LLC acquired a new stake in American Axle & Manufacturing in the second quarter worth about $42,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in American Axle & Manufacturing in the second quarter worth about $47,000. Finally, Quarry LP acquired a new position in American Axle & Manufacturing during the 3rd quarter valued at about $50,000. 91.41% of the stock is owned by 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.