American Axle & Manufacturing (NYSE:AXL) Rating Increased to Hold at Wolfe Research

American Axle & Manufacturing (NYSE:AXL) was upgraded by equities research analysts at Wolfe Research to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

Separately, Bank of America upped their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.90.

American Axle & Manufacturing Price Performance

Shares of American Axle & Manufacturing stock opened at $6.08 on Wednesday. The business has a 50 day moving average of $6.70 and a 200 day moving average of $7.06. American Axle & Manufacturing has a 52 week low of $5.99 and a 52 week high of $8.99. The company has a market cap of $714.72 million, a PE ratio of -86.86 and a beta of 2.04. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that American Axle & Manufacturing will post 0.35 earnings per share for the current year.

Institutional Trading of American Axle & Manufacturing

A number of hedge funds have recently made changes to their positions in AXL. nVerses Capital LLC purchased a new position in American Axle & Manufacturing during the second quarter valued at $41,000. Quarry LP increased its holdings in shares of American Axle & Manufacturing by 159.2% during the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 4,851 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of American Axle & Manufacturing during the first quarter valued at $76,000. Headlands Technologies LLC purchased a new position in shares of American Axle & Manufacturing in the 2nd quarter worth about $75,000. Finally, QRG Capital Management Inc. boosted its stake in American Axle & Manufacturing by 13.5% in the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 1,665 shares in the last quarter. 91.41% of the stock is owned by institutional investors.

About American Axle & Manufacturing

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.