American Axle & Manufacturing (NYSE:AXL) Price Target Raised to $8.00 at UBS Group

American Axle & Manufacturing (NYSE:AXL) had its price objective hoisted by UBS Group from $7.00 to $8.00 in a report published on Monday morning, Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

Separately, StockNews.com raised shares of American Axle & Manufacturing from a hold rating to a buy rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $8.00.

American Axle & Manufacturing Stock Performance

Shares of AXL stock opened at $7.71 on Monday. The company’s 50 day moving average is $7.15 and its 200 day moving average is $7.50. The company has a quick ratio of 1.31, a current ratio of 1.69 and a debt-to-equity ratio of 4.40. The firm has a market cap of $906.33 million, a price-to-earnings ratio of -110.14, a PEG ratio of 2.69 and a beta of 2.19. American Axle & Manufacturing has a 52-week low of $6.29 and a 52-week high of $9.55.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, May 3rd. The auto parts company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.02 by $0.16. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted ($0.01) EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that American Axle & Manufacturing will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of large investors have recently modified their holdings of the business. Texas Permanent School Fund Corp raised its position in shares of American Axle & Manufacturing by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock valued at $754,000 after purchasing an additional 1,370 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of American Axle & Manufacturing by 7.4% during the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock worth $170,000 after buying an additional 1,582 shares during the period. Kowal Investment Group LLC grew its holdings in shares of American Axle & Manufacturing by 7.3% during the fourth quarter. Kowal Investment Group LLC now owns 32,706 shares of the auto parts company’s stock valued at $288,000 after buying an additional 2,217 shares during the last quarter. Jennison Associates LLC increased its position in shares of American Axle & Manufacturing by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 117,439 shares of the auto parts company’s stock valued at $853,000 after acquiring an additional 2,591 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in American Axle & Manufacturing by 3.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,285 shares of the auto parts company’s stock worth $757,000 after acquiring an additional 2,801 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

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.