American Axle & Manufacturing (NYSE:AXL) Sets New 52-Week Low – Here’s What Happened

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $5.40 and last traded at $5.51, with a volume of 94808 shares changing hands. The stock had previously closed at $5.82.

Wall Street Analysts Forecast Growth

Separately, Barclays reduced their price objective on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.30.

American Axle & Manufacturing Trading Down 9.9 %

The firm has a market capitalization of $616.71 million, a PE ratio of 21.85 and a beta of 1.96. The business has a 50 day moving average price of $6.15 and a 200-day moving average price of $6.27. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) EPS. Analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.47 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in American Axle & Manufacturing by 45.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock valued at $2,380,000 after purchasing an additional 119,991 shares in the last quarter. XTX Topco Ltd purchased a new position in American Axle & Manufacturing in the 3rd quarter valued at approximately $62,000. Barclays PLC increased its stake in American Axle & Manufacturing by 274.4% in the 3rd quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock valued at $1,234,000 after purchasing an additional 146,430 shares in the last quarter. FMR LLC increased its stake in American Axle & Manufacturing by 25.8% in the 3rd quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock valued at $3,160,000 after purchasing an additional 104,936 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in American Axle & Manufacturing by 540.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock valued at $1,233,000 after purchasing an additional 168,348 shares in the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.