American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Free Report) shares rose before the market opened on Friday after reporting better-than-expected earnings results. The stock had previously closed at $6.21 but opened at $6.90. American Axle & Manufacturing shares were last seen trading at $6.85 with volume of 653,076 shares changing hands.
The auto parts maker reported earnings per share (EPS) of $0.19 for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $1.63 billion during the quarter, compared to analyst expectations of $1.59 billion. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The company’s revenue grew 3.9% year over year during the quarter. In the same quarter last year, the company posted earnings per share of $0.12.
Wall Street analysts predict growth
Several analysts have recently commented on the company. Citigroup raised their price target on shares of American Axle & Manufacturing from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Bank of America raised their price target on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, July 22nd. Finally, UBS Group raised their price target on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. One investment analyst rated the stock with a sell rating, three have assigned a hold rating, and two have assigned a buy rating. According to data from MarketBeat, American Axle & Manufacturing has an average rating of “hold” and a consensus price target of $8.00.
Read our latest research report on American Axle & Manufacturing
Institutional inflows and outflows
Hedge funds have recently made changes to their holdings in the company. nVerses Capital LLC acquired a new position in shares of American Axle & Manufacturing in the 2nd quarter valued at $41,000. GAMMA Investing LLC acquired a new position in American Axle & Manufacturing in the fourth quarter valued at about $76,000. EntryPoint Capital LLC acquired a new position in American Axle & Manufacturing in the first quarter valued at about $76,000. Headlands Technologies LLC acquired a new position in American Axle & Manufacturing in the second quarter valued at about $75,000. Finally, QRG Capital Management Inc. increased its position in shares of American Axle & Manufacturing by 13.5% in the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts maker’s stock valued at $98,000 after purchasing an additional 1,665 shares during the period. Institutional investors own 91.41% of the company’s stock.
Trading at American Axle & Manufacturing increased by 4.8%
The company has a market cap of $765.27 million, a P/E ratio of -93.00 and a beta of 2.04. Its 50-day moving average price is $7.05 and its 200-day moving average price is $7.29. The company has a current ratio of 1.69, a quick ratio of 1.31 and a debt-to-equity ratio of 4.40.
American Axle & Manufacturing Company Profile
(Get free report)
American Axle & Manufacturing Holdings, Inc., together with its subsidiaries, designs, engineers and manufactures driveline and metal forming technologies for electric, hybrid and internal combustion vehicles. The company operates in two segments: Driveline and Metal Forming. The Driveline segment offers front and rear axles, drive shafts, differential assemblies, clutch modules, balance shaft systems, disconnect driveline technology, and electric and hybrid driveline products and systems for light trucks, SUVs, crossovers, passenger cars and commercial vehicles.
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