American Axle & Manufact. (NYSE:AXL) Shares Down 13%

American Axle & Manufact. Holdings, Inc. (NYSE:AXL) fell 13% during trading on Wednesday . The company traded as low as $6.60 and last traded at $6.73. 623,900 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,162,107 shares. The stock had previously closed at $7.74.

A number of research firms have recently commented on AXL. Deutsche Bank increased their target price on American Axle & Manufact. from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Credit Suisse Group lifted their target price on American Axle & Manufact. from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. ValuEngine upgraded American Axle & Manufact. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 9th. Finally, Barclays lifted their target price on American Axle & Manufact. from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $8.89.

The stock has a market cap of $762.33 million, a price-to-earnings ratio of -0.59 and a beta of 2.74. The company has a debt-to-equity ratio of 17.91, a current ratio of 1.56 and a quick ratio of 1.27. The firm has a fifty day moving average of $7.56 and a 200 day moving average of $6.22.

American Axle & Manufact. (NYSE:AXL) last released its quarterly earnings results on Friday, July 31st. The auto parts company reported ($1.79) EPS for the quarter, topping the consensus estimate of ($2.13) by $0.34. The business had revenue of $515.30 million during the quarter, compared to analyst estimates of $414.62 million. American Axle & Manufact. had a negative return on equity of 13.47% and a negative net margin of 26.04%. The company’s quarterly revenue was down 69.8% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. Research analysts anticipate that American Axle & Manufact. Holdings, Inc. will post -1.49 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new stake in American Axle & Manufact. during the second quarter worth about $126,000. Point72 Hong Kong Ltd raised its stake in American Axle & Manufact. by 595.7% during the second quarter. Point72 Hong Kong Ltd now owns 10,234 shares of the auto parts company’s stock worth $78,000 after acquiring an additional 8,763 shares during the period. PNC Financial Services Group Inc. raised its stake in American Axle & Manufact. by 37.2% during the second quarter. PNC Financial Services Group Inc. now owns 12,197 shares of the auto parts company’s stock worth $93,000 after acquiring an additional 3,307 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of American Axle & Manufact. in the second quarter valued at approximately $114,000. Finally, First Quadrant L P CA acquired a new stake in shares of American Axle & Manufact. in the second quarter valued at approximately $123,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

About American Axle & Manufact. (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.

Featured Article: How to Invest in Stocks with Increasing Dividends

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.