American Axle & Manufacturing (NYSE:AXL) Reaches New 12-Month High – Here’s Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.92 and last traded at $8.8750, with a volume of 2208055 shares traded. The stock had previously closed at $8.22.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BWS Financial began coverage on American Axle & Manufacturing in a research note on Tuesday, January 27th. They issued a “buy” rating and a $17.00 price objective for the company. Stifel Nicolaus raised their target price on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, January 23rd. Morgan Stanley set a $7.00 price target on American Axle & Manufacturing in a research note on Monday, December 8th. Wall Street Zen upgraded shares of American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Finally, Royal Bank Of Canada boosted their price target on shares of American Axle & Manufacturing from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, American Axle & Manufacturing has an average rating of “Moderate Buy” and an average target price of $9.92.

American Axle & Manufacturing Stock Performance

The firm has a market capitalization of $1.05 billion, a PE ratio of 26.77 and a beta of 1.60. The company has a current ratio of 1.77, a quick ratio of 1.43 and a debt-to-equity ratio of 3.61. The business’s 50 day simple moving average is $7.03 and its two-hundred day simple moving average is $6.23.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, November 7th. The auto parts company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.52 billion. American Axle & Manufacturing had a net margin of 0.72% and a return on equity of 7.92%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. Research analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share 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 the company. Hantz Financial Services Inc. increased its position in American Axle & Manufacturing by 267.7% in the third quarter. Hantz Financial Services Inc. now owns 4,383 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 3,191 shares during the last quarter. Signaturefd LLC increased its stake in American Axle & Manufacturing by 825.6% during the second quarter. Signaturefd LLC now owns 6,979 shares of the auto parts company’s stock worth $28,000 after acquiring an additional 6,225 shares during the last quarter. Riverbend Wealth Management LLC purchased a new stake in American Axle & Manufacturing during the second quarter valued at approximately $42,000. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of American Axle & Manufacturing in the 2nd quarter worth approximately $47,000. Finally, Quarry LP bought a new stake in American Axle & Manufacturing in the third quarter worth $50,000. 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 (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.