American Axle & Manufacturing (NYSE:DCH) Stock Price Down 4.8% on Analyst Downgrade

American Axle & Manufacturing Holdings, Inc. (NYSE:DCH) dropped 4.8% on Wednesday after TD Cowen lowered their price target on the stock from $8.00 to $7.00. TD Cowen currently has a hold rating on the stock. American Axle & Manufacturing traded as low as $5.92 and last traded at $5.9150. Approximately 322,948 shares changed hands during trading, a decline of 95% from the average daily volume of 6,557,716 shares. The stock had previously closed at $6.21.

A number of other research analysts have also recently commented on DCH. Wall Street Zen cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings initiated coverage on American Axle & Manufacturing in a research note on Wednesday, March 11th. They issued a “sell (d)” rating for the company. Finally, Zacks Research upgraded shares of American Axle & Manufacturing from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $7.00.

American Axle & Manufacturing Trading Down 5.4%

The stock has a market capitalization of $1.39 billion, a PE ratio of -32.64, a price-to-earnings-growth ratio of 0.69 and a beta of 1.63. The company has a debt-to-equity ratio of 6.31, a current ratio of 2.95 and a quick ratio of 2.57.

About American Axle & Manufacturing

American Axle & Manufacturing is a U.S.-based designer, engineer and manufacturer of driveline and drivetrain systems and components for the automotive and light- and heavy-vehicle markets. The company produces a range of mechanical and electromechanical products including axles, driveshafts, differential systems, halfshafts, transmission components, and related sealing and suspension parts. Its product portfolio serves passenger cars, light trucks, commercial vehicles and off-highway applications.

Beyond component manufacturing, the company provides integrated engineering services such as product development, testing and system integration to help vehicle manufacturers meet performance, weight and fuel-economy targets.