American Axle & Manufact. (AXL) Rating Increased to Buy at Zacks Investment Research

American Axle & Manufact. (NYSE:AXL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $19.00 price target on the auto parts company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.70% from the stock’s previous close.

According to Zacks, “American Axle is making efforts to diversify its business, products and customer base to generate incremental revenues. Earlier in June, the company signed a business contract with Ford to provide power transfer units for the latter’s crossover vehicles. The deal is likely to enable American Axle to showcase its product and grow its customer base to generate incremental revenues. Further, the company anticipates to achieve record sales and profits in 2018.”

Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of American Axle & Manufact. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. TheStreet upgraded American Axle & Manufact. from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. Finally, Wolfe Research initiated coverage on American Axle & Manufact. in a report on Tuesday, October 2nd. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.13.

American Axle & Manufact. stock traded up $0.06 during trading on Monday, reaching $17.32. The company had a trading volume of 18,628 shares, compared to its average volume of 2,065,047. American Axle & Manufact. has a 1-year low of $13.95 and a 1-year high of $20.27. The stock has a market capitalization of $1.95 billion, a P/E ratio of 4.61, a P/E/G ratio of 0.55 and a beta of 1.42. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.30 and a current ratio of 1.62.

American Axle & Manufact. (NYSE:AXL) last released its quarterly earnings results on Friday, August 3rd. The auto parts company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. American Axle & Manufact. had a net margin of 6.00% and a return on equity of 28.88%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts predict that American Axle & Manufact. will post 3.9 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC lifted its holdings in American Axle & Manufact. by 6.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 51,196 shares of the auto parts company’s stock valued at $797,000 after purchasing an additional 3,326 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of American Axle & Manufact. by 2.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 127,927 shares of the auto parts company’s stock worth $1,946,000 after acquiring an additional 3,567 shares during the period. US Bancorp DE raised its holdings in shares of American Axle & Manufact. by 6.4% during the 2nd quarter. US Bancorp DE now owns 61,504 shares of the auto parts company’s stock worth $956,000 after acquiring an additional 3,691 shares during the period. Metropolitan Life Insurance Co. NY raised its holdings in shares of American Axle & Manufact. by 12.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,155 shares of the auto parts company’s stock worth $563,000 after acquiring an additional 4,006 shares during the period. Finally, United Services Automobile Association raised its holdings in shares of American Axle & Manufact. by 1.2% during the 2nd quarter. United Services Automobile Association now owns 493,121 shares of the auto parts company’s stock worth $7,673,000 after acquiring an additional 6,032 shares during the period. Institutional investors own 98.29% of the company’s stock.

About American Axle & Manufact.

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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