American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) from a sell rating to a hold rating in a research note released on Monday, October 16th. Zacks Investment Research currently has $20.00 price target on the auto parts company’s stock.

According to Zacks, “Zacks Consensus Estimate for American Axle’s quarterly earnings has remained unchanged over the past one month. The company is anticipated to achieve record sales and profits this year. Also, the company’s efforts at diversifying its customer base are generating incremental revenues. Moreover, American Axle is undergoing significant expansion of its manufacturing footprint, particularly in Asia, where growing demand for vehicles is enhancing production volumes. However, the company is facing pressure from Original Equipment Manufacturers to lower product prices, which is hampering its financial condition. Also, its high dependence on few automakers makes it vulnerable to production cuts by these companies. Also in the last six months, its shares have underperformed the industry it belongs to.”

Several other brokerages also recently weighed in on AXL. ValuEngine raised shares of American Axle & Manufacturing Holdings from a hold rating to a buy rating in a report on Tuesday, September 26th. Off Wall Street began coverage on shares of American Axle & Manufacturing Holdings in a report on Thursday, July 13th. They issued a buy rating for the company. KeyCorp reissued a hold rating on shares of American Axle & Manufacturing Holdings in a report on Sunday, September 17th. BidaskClub downgraded shares of American Axle & Manufacturing Holdings from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, CLSA began coverage on shares of American Axle & Manufacturing Holdings in a research report on Thursday, June 22nd. They set a buy rating and a $18.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. American Axle & Manufacturing Holdings currently has a consensus rating of Hold and a consensus target price of $19.50.

Shares of American Axle & Manufacturing Holdings (NYSE AXL) opened at 18.43 on Monday. American Axle & Manufacturing Holdings has a 52-week low of $12.61 and a 52-week high of $21.25. The stock’s 50 day moving average price is $17.10 and its 200-day moving average price is $16.06. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 6.35 and a beta of 1.38.

American Axle & Manufacturing Holdings (NYSE:AXL) last issued its earnings results on Friday, July 28th. The auto parts company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. American Axle & Manufacturing Holdings had a net margin of 5.32% and a return on equity of 42.42%. American Axle & Manufacturing Holdings’s quarterly revenue was up 71.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, analysts forecast that American Axle & Manufacturing Holdings will post $3.30 EPS for the current year.

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In other news, Director George Thanopoulos sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $15.03, for a total transaction of $1,878,750.00. Following the transaction, the director now directly owns 1,001,986 shares of the company’s stock, valued at $15,059,849.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. bought a new position in shares of American Axle & Manufacturing Holdings during the first quarter valued at approximately $1,121,000. Morgan Stanley boosted its stake in shares of American Axle & Manufacturing Holdings by 7.0% during the first quarter. Morgan Stanley now owns 418,610 shares of the auto parts company’s stock valued at $7,862,000 after purchasing an additional 27,281 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of American Axle & Manufacturing Holdings by 10.1% during the first quarter. Geode Capital Management LLC now owns 1,048,428 shares of the auto parts company’s stock valued at $19,689,000 after purchasing an additional 95,840 shares in the last quarter. UBS Group AG boosted its stake in shares of American Axle & Manufacturing Holdings by 949.0% during the first quarter. UBS Group AG now owns 105,649 shares of the auto parts company’s stock valued at $1,984,000 after purchasing an additional 95,578 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of American Axle & Manufacturing Holdings by 15.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 470,000 shares of the auto parts company’s stock valued at $8,827,000 after purchasing an additional 61,783 shares in the last quarter.

About American Axle & Manufacturing Holdings

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

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