American Axle & Manufacturing (NYSE:AXL) Price Target Lowered to $7.00 at Barclays

American Axle & Manufacturing (NYSE:AXL) had its target price reduced by analysts at Barclays from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s target price points to a potential upside of 22.48% from the company’s previous close.

American Axle & Manufacturing Stock Performance

AXL stock opened at $5.72 on Wednesday. The stock has a 50-day moving average price of $6.18 and a 200-day moving average price of $6.30. American Axle & Manufacturing has a 1-year low of $5.41 and a 1-year high of $8.98. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28. The firm has a market cap of $671.97 million, a PE ratio of 23.81 and a beta of 1.96.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.25. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted ($0.11) EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts expect that American Axle & Manufacturing will post 0.47 earnings per share for the current year.

Institutional Trading of American Axle & Manufacturing

Large investors have recently made changes to their positions in the company. KBC Group NV grew its stake in shares of American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after buying an additional 3,211 shares during the period. Quarry LP grew its stake in shares of American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after buying an additional 4,851 shares during the period. XTX Topco Ltd acquired a new stake in shares of American Axle & Manufacturing in the 3rd quarter valued at about $62,000. Zacks Investment Management acquired a new position in American Axle & Manufacturing during the 3rd quarter valued at about $70,000. Finally, Creative Planning acquired a new position in American Axle & Manufacturing during the 3rd quarter valued at about $80,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

About American Axle & Manufacturing

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