American Axle & Manufacturing (NYSE:AXL) Shares Up 5.1%

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) shares shot up 5.1% during trading on Thursday . The company traded as high as $10.13 and last traded at $10.13. 14,211 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,126,375 shares. The stock had previously closed at $9.64.

Separately, Zacks Investment Research lowered shares of American Axle & Manufacturing from a “hold” rating to a “strong sell” rating and set a $8.25 target price for the company. in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, American Axle & Manufacturing presently has an average rating of “Hold” and an average target price of $10.18.

The stock has a market capitalization of $1.13 billion, a P/E ratio of 13.43, a PEG ratio of 0.79 and a beta of 2.42. The company has a debt-to-equity ratio of 7.17, a quick ratio of 1.40 and a current ratio of 1.82. The company’s fifty day simple moving average is $9.51 and its two-hundred day simple moving average is $9.43.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Thursday, November 4th. The auto parts company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.14. American Axle & Manufacturing had a net margin of 1.65% and a return on equity of 43.98%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $1.15 earnings per share. The business’s revenue for the quarter was down 14.2% on a year-over-year basis. On average, research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in shares of American Axle & Manufacturing by 307.7% during the 2nd quarter. US Bancorp DE now owns 2,740 shares of the auto parts company’s stock worth $28,000 after acquiring an additional 2,068 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of American Axle & Manufacturing during the 2nd quarter worth approximately $29,000. IFP Advisors Inc boosted its position in shares of American Axle & Manufacturing by 616.4% during the 3rd quarter. IFP Advisors Inc now owns 3,575 shares of the auto parts company’s stock worth $33,000 after acquiring an additional 3,076 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of American Axle & Manufacturing by 26.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,928 shares of the auto parts company’s stock worth $69,000 after acquiring an additional 1,638 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of American Axle & Manufacturing during the 2nd quarter worth approximately $112,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

American Axle & Manufacturing Company Profile (NYSE:AXL)

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the following segments: Driveline and Metal Forming. 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.

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