American Axle & Manufacturing (NYSE:AXL) Stock Price Down 6.4% – Time to Sell?

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s share price dropped 6.4% during trading on Monday . The stock traded as low as $4.80 and last traded at $4.90. Approximately 934,437 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,951,186 shares. The stock had previously closed at $5.23.

Analyst Ratings Changes

Separately, Barclays cut their target price on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.30.

American Axle & Manufacturing Stock Down 5.6 %

The stock has a 50-day moving average of $6.08 and a 200 day moving average of $6.23. The company has a market capitalization of $580.26 million, a PE ratio of 20.56 and a beta of 1.94. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.25. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) EPS. Sell-side analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in shares of American Axle & Manufacturing by 45.3% in the third quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock valued at $2,380,000 after buying an additional 119,991 shares during the period. XTX Topco Ltd bought a new stake in American Axle & Manufacturing in the 3rd quarter valued at about $62,000. Barclays PLC lifted its holdings in American Axle & Manufacturing by 274.4% during the third quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock valued at $1,234,000 after purchasing an additional 146,430 shares during the last quarter. FMR LLC boosted its position in American Axle & Manufacturing by 25.8% during the third quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock worth $3,160,000 after purchasing an additional 104,936 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of American Axle & Manufacturing by 540.2% in the third quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock worth $1,233,000 after purchasing an additional 168,348 shares in the last quarter. 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 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.