An issue of American Axle (NYSE:AXL) bonds fell 0.8% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 6.25% coupon and will mature on March 15, 2026. The bonds in the issue are now trading at $97.75 and were trading at $99.25 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.
AXL has been the subject of a number of research reports. ValuEngine downgraded American Axle from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Guggenheim reiterated a “buy” rating and set a $21.00 price objective on shares of American Axle in a report on Friday, February 23rd. Susquehanna Bancshares set a $17.00 price objective on American Axle and gave the stock a “hold” rating in a report on Wednesday, March 14th. Morgan Stanley upgraded American Axle from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $13.38 to $20.27 in a report on Thursday, March 22nd. Finally, Citigroup upgraded American Axle from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $15.34 to $20.00 in a report on Tuesday, March 27th. Four analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. American Axle presently has an average rating of “Hold” and a consensus price target of $19.22.
American Axle traded up $0.04, reaching $16.24, during mid-day trading on Wednesday, MarketBeat Ratings reports. The company had a trading volume of 891,600 shares, compared to its average volume of 2,319,727. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 2.36. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 4.33, a P/E/G ratio of 0.54 and a beta of 1.38. American Axle has a 52 week low of $13.38 and a 52 week high of $20.27.
American Axle (NYSE:AXL) last posted its quarterly earnings results on Friday, May 4th. The auto parts company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.17. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.76 billion. American Axle had a return on equity of 28.46% and a net margin of 4.92%. The business’s revenue was up 77.0% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. equities research analysts anticipate that American Axle will post 3.72 EPS for the current fiscal year.
In other news, VP Michael Joseph Lynch sold 16,337 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $15.68, for a total value of $256,164.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Thanopoulos sold 171,164 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $15.52, for a total value of $2,656,465.28. Following the completion of the sale, the director now directly owns 181,812 shares of the company’s stock, valued at $2,821,722.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 329,751 shares of company stock valued at $5,138,985. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in shares of American Axle by 19.5% in the fourth quarter. State of Alaska Department of Revenue now owns 19,773 shares of the auto parts company’s stock valued at $336,000 after buying an additional 3,220 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of American Axle by 2.9% in the first quarter. Great West Life Assurance Co. Can now owns 127,927 shares of the auto parts company’s stock valued at $1,946,000 after buying an additional 3,567 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of American Axle by 128.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,657 shares of the auto parts company’s stock valued at $113,000 after buying an additional 3,740 shares during the last quarter. Swiss National Bank lifted its position in shares of American Axle by 2.2% in the first quarter. Swiss National Bank now owns 174,400 shares of the auto parts company’s stock valued at $2,654,000 after buying an additional 3,800 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of American Axle by 0.3% in the fourth quarter. LSV Asset Management now owns 1,336,176 shares of the auto parts company’s stock valued at $22,755,000 after buying an additional 4,500 shares during the last quarter.
American Axle Company Profile
American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.
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