Citigroup Boosts American Axle & Manufacturing (NYSE:AXL) Price Target to $8.00

American Axle & Manufacturing (NYSE:AXL) had its target price increased by Citigroup from $7.50 to $8.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the auto parts company’s stock.

Several other research analysts also recently weighed in on AXL. UBS Group increased their price target on American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a neutral rating in a research note on Monday. StockNews.com upgraded American Axle & Manufacturing from a hold rating to a buy rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $8.00.

American Axle & Manufacturing Stock Up 2.8 %

Shares of NYSE:AXL opened at $7.80 on Monday. The company has a market capitalization of $916.33 million, a PE ratio of -111.36, a price-to-earnings-growth ratio of 2.69 and a beta of 2.19. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.69 and a quick ratio of 1.31. The business has a fifty day moving average price of $7.14 and a two-hundred day moving average price of $7.50. American Axle & Manufacturing has a 1 year low of $6.29 and a 1 year high of $9.55.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, May 3rd. The auto parts company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.16. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.52 billion. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Analysts forecast that American Axle & Manufacturing will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its stake in American Axle & Manufacturing by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock worth $170,000 after purchasing an additional 1,582 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of American Axle & Manufacturing by 8.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,396 shares of the auto parts company’s stock valued at $511,000 after acquiring an additional 5,455 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of American Axle & Manufacturing by 8.2% in the 1st quarter. Empowered Funds LLC now owns 461,740 shares of the auto parts company’s stock valued at $3,398,000 after acquiring an additional 34,967 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of American Axle & Manufacturing by 553.5% in the 1st quarter. Quantbot Technologies LP now owns 88,887 shares of the auto parts company’s stock valued at $654,000 after acquiring an additional 75,285 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of American Axle & Manufacturing by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock valued at $754,000 after acquiring an additional 1,370 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.