American Axle & Manufacturing (NYSE:AXL) Stock Price Down 4.8% – Here’s What Happened

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price fell 4.8% on Friday . The stock traded as low as $4.44 and last traded at $4.42. 411,635 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,596,179 shares. The stock had previously closed at $4.64.

Analyst Ratings Changes

Several research firms recently weighed in on AXL. Cowen assumed coverage on shares of American Axle & Manufacturing in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Morgan Stanley reduced their target price on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. StockNews.com downgraded shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. UBS Group reduced their target price on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, TD Cowen assumed coverage on shares of American Axle & Manufacturing in a research report on Friday, March 7th. They issued a “hold” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, American Axle & Manufacturing presently has an average rating of “Hold” and a consensus target price of $6.69.

American Axle & Manufacturing Stock Down 4.2 %

The company’s 50-day moving average is $5.17 and its 200 day moving average is $5.82. The company has a market capitalization of $522.65 million, a PE ratio of 15.88 and a beta of 1.85. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm posted ($0.09) EPS. American Axle & Manufacturing’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

Institutional Trading of American Axle & Manufacturing

A number of institutional investors have recently made changes to their positions in AXL. KBC Group NV boosted its holdings in shares of American Axle & Manufacturing by 81.3% during the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after acquiring an additional 3,211 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of American Axle & Manufacturing by 45.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock valued at $2,380,000 after acquiring an additional 119,991 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of American Axle & Manufacturing by 374.2% during the 3rd quarter. Intech Investment Management LLC now owns 73,233 shares of the auto parts company’s stock valued at $453,000 after acquiring an additional 57,790 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of American Axle & Manufacturing by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company’s stock valued at $15,837,000 after acquiring an additional 65,535 shares during the last quarter. Finally, Algert Global LLC lifted its stake in shares of American Axle & Manufacturing by 31.9% in the 3rd quarter. Algert Global LLC now owns 921,396 shares of the auto parts company’s stock worth $5,694,000 after purchasing an additional 223,032 shares during the period. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Company Profile

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.