American Axle & Manufact. (NYSE:AXL) Shares Gap Down to $8.96

Shares of American Axle & Manufact. Holdings, Inc. (NYSE:AXL) gapped down prior to trading on Monday . The stock had previously closed at $9.14, but opened at $8.96. American Axle & Manufact. shares last traded at $8.64, with a volume of 2,958,037 shares traded.

Several equities research analysts have weighed in on the company. Barclays lowered their target price on American Axle & Manufact. from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, August 5th. TheStreet cut American Axle & Manufact. from a “c-” rating to a “d+” rating in a report on Tuesday, August 27th. Finally, Credit Suisse Group assumed coverage on American Axle & Manufact. in a report on Wednesday, June 26th. They issued an “outperform” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. American Axle & Manufact. presently has a consensus rating of “Hold” and an average price target of $16.33.

The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.20 and a current ratio of 1.56. The stock has a market capitalization of $1.01 billion, a PE ratio of 2.63, a PEG ratio of 0.51 and a beta of 2.17. The business has a 50 day moving average of $7.92 and a two-hundred day moving average of $11.82.

American Axle & Manufact. (NYSE:AXL) last issued its quarterly earnings data on Friday, August 2nd. The auto parts company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.04). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.78 billion. American Axle & Manufact. had a positive return on equity of 14.28% and a negative net margin of 2.94%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 earnings per share. On average, equities analysts expect that American Axle & Manufact. Holdings, Inc. will post 2.11 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of American Axle & Manufact. by 2.4% during the 2nd quarter. BlackRock Inc. now owns 16,865,767 shares of the auto parts company’s stock worth $215,209,000 after purchasing an additional 389,512 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of American Axle & Manufact. by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,333,245 shares of the auto parts company’s stock worth $157,371,000 after purchasing an additional 437,260 shares during the last quarter. LSV Asset Management lifted its stake in shares of American Axle & Manufact. by 49.8% during the 1st quarter. LSV Asset Management now owns 5,444,771 shares of the auto parts company’s stock worth $77,914,000 after purchasing an additional 1,809,991 shares during the last quarter. Northern Trust Corp lifted its stake in shares of American Axle & Manufact. by 1.5% during the 2nd quarter. Northern Trust Corp now owns 2,558,847 shares of the auto parts company’s stock worth $32,651,000 after purchasing an additional 37,700 shares during the last quarter. Finally, Prudential PLC raised its stake in American Axle & Manufact. by 19.1% in the second quarter. Prudential PLC now owns 2,443,200 shares of the auto parts company’s stock valued at $31,175,000 after buying an additional 392,300 shares during the last quarter.

American Axle & Manufact. Company Profile (NYSE:AXL)

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, 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.

See Also: What is a put option?

Receive News & Ratings for American Axle & Manufact. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Axle & Manufact. and related companies with MarketBeat.com's FREE daily email newsletter.