American Axle & Manufacturing (NYSE:AXL) Trading Down 6.5%

Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) traded down 6.5% on Tuesday . The stock traded as low as $5.46 and last traded at $5.47. 1,023,531 shares changed hands during trading, a decline of 34% from the average session volume of 1,556,361 shares. The stock had previously closed at $5.85.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Bank of America boosted their price objective on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.58.

American Axle & Manufacturing Stock Down 3.4 %

The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. The company has a market capitalization of $664.33 million, a price-to-earnings ratio of -80.70 and a beta of 1.95. The firm’s 50-day moving average price is $6.66 and its 200 day moving average price is $7.03.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. American Axle & Manufacturing’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. On average, sell-side analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of hedge funds have recently made changes to their positions in AXL. nVerses Capital LLC bought a new position in American Axle & Manufacturing in the 2nd quarter valued at approximately $41,000. Quarry LP lifted its stake in shares of American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 4,851 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of American Axle & Manufacturing during the 2nd quarter valued at $75,000. EntryPoint Capital LLC bought a new stake in American Axle & Manufacturing during the 1st quarter worth $76,000. Finally, QRG Capital Management Inc. raised its position in American Axle & Manufacturing by 13.5% in the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after purchasing an additional 1,665 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

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.