Bank of America Corp. reaffirmed their sell rating on shares of American Axle & Manufacturing Holdings Inc. (NYSE:AXL) in a research report sent to investors on Friday morning. The brokerage currently has a $13.00 target price on the stock.

AXL has been the subject of a number of other research reports. FBR & Co cut shares of American Axle & Manufacturing Holdings from a market perform rating to an underperform rating and cut their target price for the company from $16.00 to $12.00 in a research note on Monday, November 7th. Buckingham Research cut shares of American Axle & Manufacturing Holdings from a buy rating to a neutral rating in a research note on Thursday, November 3rd. cut shares of American Axle & Manufacturing Holdings from an outperform rating to an underperform rating in a research note on Friday, November 4th. Royal Bank Of Canada cut shares of American Axle & Manufacturing Holdings from an outperform rating to a sector perform rating and lifted their target price for the company from $16.00 to $17.00 in a research note on Monday, August 1st. Finally, RBC Capital Markets cut shares of American Axle & Manufacturing Holdings from an outperform rating to a sector perform rating and lifted their target price for the company from $16.00 to $17.00 in a research note on Monday, August 1st. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company has an average rating of Hold and an average price target of $16.38.

Analyst Recommendations for American Axle & Manufacturing Holdings (NYSE:AXL)

American Axle & Manufacturing Holdings (NYSE:AXL) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The firm earned $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. American Axle & Manufacturing Holdings had a net margin of 6.48% and a return on equity of 61.64%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share.

In other news, Director Samuel Valenti III purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of $13.44 per share, with a total value of $134,400.00. Following the acquisition, the director now directly owns 17,220 shares of the company’s stock, valued at $231,436.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David C. Dauch purchased 50,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was purchased at an average cost of $14.47 per share, with a total value of $723,500.00. The disclosure for this purchase can be found here. 0.91% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of American Axle & Manufacturing Holdings by 167.6% in the second quarter. BlackRock Fund Advisors now owns 4,955,711 shares of the company’s stock valued at $71,759,000 after buying an additional 3,104,085 shares during the period. Anchor Bolt Capital LP boosted its stake in American Axle & Manufacturing Holdings by 161.2% in the second quarter. Anchor Bolt Capital LP now owns 2,495,935 shares of the company’s stock valued at $36,141,000 after buying an additional 1,540,254 shares in the last quarter. Vanguard Group Inc. boosted its stake in American Axle & Manufacturing Holdings by 9.2% in the second quarter. Vanguard Group Inc. now owns 9,198,004 shares of the company’s stock valued at $133,188,000 after buying an additional 772,019 shares in the last quarter. Foundry Partners LLC bought a new stake in American Axle & Manufacturing Holdings during the second quarter valued at approximately $10,588,000. Finally, Bank of New York Mellon Corp boosted its stake in American Axle & Manufacturing Holdings by 90.7% in the second quarter. Bank of New York Mellon Corp now owns 1,080,302 shares of the company’s stock valued at $15,643,000 after buying an additional 513,898 shares in the last quarter. 96.50% of the stock is owned by institutional investors.

About American Axle & Manufacturing Holdings

American Axle & Manufacturing Holdings, Inc manufactures, engineers, designs and validates driveline and drivetrain systems, and related components, and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles. The Company supplies its products to automotive industry.

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