American Axle & Manufacturing (NYSE:AXL) Given New $8.00 Price Target at Citigroup

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

Several other equities analysts have also commented on AXL. UBS Group increased their price objective on American Axle & Manufacturing from $7.00 to $8.00 and gave the company a neutral rating in a research report on Monday. StockNews.com upgraded shares of American Axle & Manufacturing from a hold rating to a buy rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $8.00.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock opened at $7.66 on Monday. The stock has a market cap of $899.77 million, a price-to-earnings ratio of -109.34, a PEG ratio of 2.69 and a beta of 2.19. The company has a quick ratio of 1.31, a current ratio of 1.69 and a debt-to-equity ratio of 4.40. The business has a 50-day simple moving average of $7.10 and a 200 day simple moving average of $7.50. American Axle & Manufacturing has a 52 week low of $6.29 and a 52 week high of $9.55.

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

Hedge Funds Weigh In On American Axle & Manufacturing

Large investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter worth approximately $14,167,000. Barclays PLC increased its holdings in American Axle & Manufacturing by 522.6% during the 3rd quarter. Barclays PLC now owns 1,122,458 shares of the auto parts company’s stock valued at $8,149,000 after purchasing an additional 942,186 shares during the period. Norges Bank purchased a new position in American Axle & Manufacturing during the 4th quarter valued at about $7,024,000. Assenagon Asset Management S.A. purchased a new stake in American Axle & Manufacturing in the 3rd quarter worth approximately $5,095,000. Finally, Deutsche Bank AG grew its position in shares of American Axle & Manufacturing by 554.4% in the 3rd quarter. Deutsche Bank AG now owns 741,034 shares of the auto parts company’s stock worth $5,380,000 after buying an additional 627,791 shares during the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

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.