American Axle & Manufacturing (NYSE:AXL) Shares Gap Up to $7.32

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s share price gapped up before the market opened on Friday . The stock had previously closed at $7.32, but opened at $7.75. American Axle & Manufacturing shares last traded at $7.54, with a volume of 1,186,925 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group upgraded shares of American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 price objective for the company in a research note on Wednesday, February 28th. StockNews.com raised shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.70.

American Axle & Manufacturing Trading Up 2.3 %

The business has a fifty day moving average of $7.07 and a 200-day moving average of $7.48. The company has a debt-to-equity ratio of 4.55, a quick ratio of 1.27 and a current ratio of 1.67. The company has a market capitalization of $879.79 million, a P/E ratio of -26.75, a PEG ratio of 2.65 and a beta of 2.19.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, February 16th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.42 billion. American Axle & Manufacturing had a negative net margin of 0.55% and a negative return on equity of 1.78%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. Analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several large investors have recently bought and sold shares of the stock. Kowal Investment Group LLC grew its stake in shares of American Axle & Manufacturing by 7.3% in the 4th quarter. Kowal Investment Group LLC now owns 32,706 shares of the auto parts company’s stock worth $288,000 after acquiring an additional 2,217 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of American Axle & Manufacturing by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 117,439 shares of the auto parts company’s stock worth $853,000 after buying an additional 2,591 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of American Axle & Manufacturing by 3.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,285 shares of the auto parts company’s stock worth $757,000 after buying an additional 2,801 shares during the last quarter. New York State Teachers Retirement System grew its position in American Axle & Manufacturing by 1.9% during the third quarter. New York State Teachers Retirement System now owns 154,347 shares of the auto parts company’s stock valued at $1,121,000 after buying an additional 2,818 shares during the period. Finally, Swiss National Bank raised its position in American Axle & Manufacturing by 1.1% in the third quarter. Swiss National Bank now owns 257,300 shares of the auto parts company’s stock worth $1,868,000 after acquiring an additional 2,900 shares during the period. 91.41% of the stock is currently owned by institutional investors.

About American Axle & Manufacturing

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.