American Axle & Manufact. (AXL) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of American Axle & Manufact. (NYSE:AXL) from a strong-buy rating to a hold rating in a research note released on Tuesday, January 2nd.

According to Zacks, “The Zacks Consensus Estimate for yearly earnings of American Axle has moved up over the past 60 days. The company is undertaking various strategic actions to diversify its business and customer base in order to generate incremental revenues. It has provided an improved guidance for fiscal 2017 and is also undergoing a significant expansion of its manufacturing footprint, particularly in Asia, where growing demand for vehicles is enhancing production volumes. Also, a strong cash flow enables American Axle to pursue its capital deployment strategies.”

Other equities analysts have also issued research reports about the company. Royal Bank of Canada reiterated a buy rating and set a $23.00 price objective on shares of American Axle & Manufact. in a research note on Friday, November 3rd. ValuEngine upgraded American Axle & Manufact. from a hold rating to a buy rating in a research note on Tuesday, September 26th. KeyCorp restated a hold rating on shares of American Axle & Manufact. in a report on Sunday, September 17th. B. Riley restated a sell rating on shares of American Axle & Manufact. in a report on Wednesday, November 1st. Finally, Bank of America boosted their target price on American Axle & Manufact. from $12.00 to $13.00 and gave the stock an underperform rating in a report on Monday, November 6th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $19.67.

American Axle & Manufact. (NYSE:AXL) traded down $0.73 during midday trading on Tuesday, hitting $18.01. The company’s stock had a trading volume of 3,255,800 shares, compared to its average volume of 2,419,800. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.72 and a quick ratio of 1.41. American Axle & Manufact. has a twelve month low of $13.38 and a twelve month high of $21.25. The stock has a market cap of $2,000.00, a price-to-earnings ratio of 6.15, a P/E/G ratio of 0.66 and a beta of 1.36.

American Axle & Manufact. (NYSE:AXL) last announced its quarterly earnings results on Friday, November 3rd. The auto parts company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.21. American Axle & Manufact. had a return on equity of 36.26% and a net margin of 5.07%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business earned $0.78 EPS. American Axle & Manufact.’s revenue for the quarter was up 71.2% compared to the same quarter last year. sell-side analysts expect that American Axle & Manufact. will post 3.6 earnings per share for the current year.

In other American Axle & Manufact. news, major shareholder American Securities Llc sold 15,000,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $17.37, for a total transaction of $260,550,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George Thanopoulos sold 150,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $17.64, for a total value of $2,646,000.00. Following the transaction, the director now owns 399,013 shares in the company, valued at $7,038,589.32. The disclosure for this sale can be found here. Insiders sold 15,604,931 shares of company stock worth $271,156,687 over the last quarter. 0.96% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. PEAK6 Investments L.P. purchased a new stake in shares of American Axle & Manufact. during the third quarter worth $4,048,000. Voya Investment Management LLC increased its position in shares of American Axle & Manufact. by 5.1% during the second quarter. Voya Investment Management LLC now owns 143,046 shares of the auto parts company’s stock worth $2,232,000 after acquiring an additional 6,999 shares during the period. Teachers Advisors LLC increased its position in shares of American Axle & Manufact. by 12.4% during the second quarter. Teachers Advisors LLC now owns 154,353 shares of the auto parts company’s stock worth $2,408,000 after acquiring an additional 17,078 shares during the period. Northern Trust Corp increased its position in shares of American Axle & Manufact. by 6.1% during the second quarter. Northern Trust Corp now owns 1,060,528 shares of the auto parts company’s stock worth $16,544,000 after acquiring an additional 60,734 shares during the period. Finally, State Street Corp increased its position in shares of American Axle & Manufact. by 13.9% during the second quarter. State Street Corp now owns 2,022,484 shares of the auto parts company’s stock worth $31,547,000 after acquiring an additional 247,575 shares during the period.

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American Axle & Manufact. Company Profile

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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Analyst Recommendations for American Axle & Manufact. (NYSE:AXL)

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