American Axle & Manufacturing (NYSE:AXL) Sets New 1-Year High – Here’s Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.12 and last traded at $8.1930, with a volume of 1062792 shares trading hands. The stock had previously closed at $7.74.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of American Axle & Manufacturing from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, January 14th. Weiss Ratings restated a “hold (c-)” rating on shares of American Axle & Manufacturing in a report on Monday, December 29th. Stifel Nicolaus boosted their price target on American Axle & Manufacturing from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Monday, October 20th. Morgan Stanley set a $7.00 price objective on American Axle & Manufacturing in a report on Monday, December 8th. Finally, Wall Street Zen raised American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, American Axle & Manufacturing has an average rating of “Hold” and a consensus price target of $7.42.

American Axle & Manufacturing Stock Performance

The stock has a market cap of $983.67 million, a P/E ratio of 25.26 and a beta of 1.58. The firm has a 50 day moving average of $6.65 and a two-hundred day moving average of $5.98. The company has a debt-to-equity ratio of 3.61, a quick ratio of 1.43 and a current ratio of 1.77.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, November 7th. The auto parts company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. American Axle & Manufacturing had a return on equity of 7.92% and a net margin of 0.72%.The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. On average, research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Stratos Investment Management LLC acquired a new position in shares of American Axle & Manufacturing in the 4th quarter worth approximately $89,000. Allspring Global Investments Holdings LLC raised its stake in American Axle & Manufacturing by 9.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 67,339 shares of the auto parts company’s stock worth $437,000 after acquiring an additional 5,989 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of American Axle & Manufacturing by 351.1% during the fourth quarter. SG Americas Securities LLC now owns 125,114 shares of the auto parts company’s stock valued at $802,000 after acquiring an additional 97,377 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of American Axle & Manufacturing by 81.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 180,685 shares of the auto parts company’s stock valued at $1,086,000 after purchasing an additional 80,957 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of American Axle & Manufacturing in the 3rd quarter worth about $101,000. Institutional investors own 91.41% of the company’s stock.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc (NYSE: AXL) is a global designer, engineer and manufacturer of driveline and drivetrain systems and components for light vehicles, commercial trucks and off-highway applications. The company’s core product portfolio includes axles, driveshafts, half-shafts, drive module assemblies and differential gears, as well as advanced metallic and composite structures for electric and hybrid vehicles. AAM’s capabilities also encompass system testing, rapid prototyping and precision machining to support both high-volume production and low-volume, specialty vehicle applications.

Founded in 1994 following the divestiture of the Detroit Axle Division of General Motors, American Axle & Manufacturing completed its initial public offering in 1998.