American Axle & Manufacturing (NYSE:AXL) Earns Sector Perform Rating from Royal Bank of Canada

American Axle & Manufacturing (NYSE:AXL)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $5.00 price target on the auto parts company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 53.61% from the stock’s previous close.

AXL has been the topic of several other research reports. UBS Group cut their price objective on American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, April 10th. TD Cowen initiated coverage on American Axle & Manufacturing in a report on Friday, March 7th. They set a “hold” rating and a $5.00 price target on the stock. Barclays dropped their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. 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 report on Monday, March 3rd. Finally, StockNews.com cut shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus price target of $6.25.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock traded up $0.04 during midday trading on Wednesday, reaching $3.26. The company’s stock had a trading volume of 418,815 shares, compared to its average volume of 1,767,665. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The stock has a market cap of $385.17 million, a PE ratio of 11.59 and a beta of 1.70. American Axle & Manufacturing has a 52 week low of $3.00 and a 52 week high of $7.98. The business has a 50-day moving average price of $4.44 and a 200-day moving average price of $5.51.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. On average, sell-side analysts predict that American Axle & Manufacturing will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in shares of American Axle & Manufacturing during the fourth quarter valued at approximately $51,000. Ethic Inc. bought a new stake in American Axle & Manufacturing during the 4th quarter valued at $59,000. Ground Swell Capital LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter valued at $61,000. XTX Topco Ltd bought a new stake in shares of American Axle & Manufacturing during the third quarter worth about $62,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in American Axle & Manufacturing in the 4th quarter valued at about $62,000. 91.41% of the stock is 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.