American Axle & Manufacturing (NYSE:AXL) Price Target Increased to $8.00 by Analysts at Citigroup

American Axle & Manufacturing (NYSE:AXL) had its price target lifted by investment analysts at Citigroup from $7.50 to $8.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s target price points to a potential upside of 4.30% from the company’s current price.

A number of other research firms have also recently issued reports on AXL. StockNews.com raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a report on Monday, April 8th. UBS Group raised their price target on American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

American Axle & Manufacturing Stock Performance

American Axle & Manufacturing stock traded up $0.18 during trading hours on Monday, hitting $7.67. The stock had a trading volume of 793,044 shares, compared to its average volume of 1,761,445. The company has a 50-day moving average of $7.08 and a two-hundred day moving average of $7.49. The company has a quick ratio of 1.31, a current ratio of 1.69 and a debt-to-equity ratio of 4.40. American Axle & Manufacturing has a fifty-two week low of $6.29 and a fifty-two week high of $9.55. The company has a market cap of $901.53 million, a PE ratio of -109.56, a price-to-earnings-growth ratio of 2.69 and a beta of 2.19.

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

Institutional Investors Weigh In On American Axle & Manufacturing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at about $76,000. Vanguard Personalized Indexing Management LLC acquired a new stake in American Axle & Manufacturing in the 3rd quarter valued at approximately $76,000. QRG Capital Management Inc. acquired a new position in American Axle & Manufacturing during the 3rd quarter worth approximately $84,000. Jump Financial LLC bought a new position in shares of American Axle & Manufacturing during the 3rd quarter worth approximately $141,000. Finally, MGO One Seven LLC raised its holdings in shares of American Axle & Manufacturing by 18.2% in the third quarter. MGO One Seven LLC now owns 19,661 shares of the auto parts company’s stock valued at $143,000 after purchasing an additional 3,022 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Company Profile

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.