Zacks reaffirmed their neutral rating on shares of American Axle & Manufacturing Holdings (NYSE:AXL) in a report released on Monday, AnalystRatingsNetwork.com reports. Zacks currently has a $19.00 price objective on the stock.
Zacks’ analyst wrote, “American Axle reported third-quarter 2013 adjusted earnings of $0.42 per share, surging from $0.07 per share in the comparable quarter of 2012. However it missed the Zacks Consensus Estimate of $0.55. Revenues went up 16.8% to $820.8 million, missing the Zacks Consensus Estimate of $859 million. The results benefited from new business launches, and higher production volumes of General Motors’s full-size pickups and SUVs and Chrysler’s new Ram Heavy Duty series pickups. The company should benefit from the new and incremental business to be launched. However, weak SUV demand, high commodity costs and pricing pressure by OEMs remain causes for concern. We, therefore, continue to recommend the shares of American Axle as Neutral and set a target price of $19.00.”
American Axle & Manufacturing Holdings (NYSE:AXL) traded down 2.63% on Monday, hitting $17.79. 2,004,743 shares of the company’s stock traded hands. American Axle & Manufacturing Holdings has a 1-year low of $9.27 and a 1-year high of $21.41. The stock’s 50-day moving average is $19.09 and its 200-day moving average is $18.3. The company has a market cap of $1.370 billion and a P/E ratio of 3.64.
American Axle & Manufacturing Holdings (NYSE:AXL) last announced its earnings results on Friday, November 1st. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.16. The company had revenue of $820.80 million for the quarter, compared to the consensus estimate of $866.49 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts expect that American Axle & Manufacturing Holdings will post $1.74 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AXL. Analysts at Jefferies Group cut their price target on shares of American Axle & Manufacturing Holdings from $22.00 to $20.00 in a research note to investors on Monday. They now have a hold rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of American Axle & Manufacturing Holdings from $22.00 to $21.00 in a research note to investors on Monday, October 21st. They now have an underweight rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. American Axle & Manufacturing Holdings currently has an average rating of Hold and an average price target of $20.50.
American Axle & Manufacturing Holdings, Inc (NYSE:AXL) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles.
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