Barclays Has Lowered Expectations for American Axle & Manufacturing (NYSE:AXL) Stock Price

American Axle & Manufacturing (NYSE:AXL) had its price objective lowered by Barclays from $8.00 to $7.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the auto parts company’s stock.

American Axle & Manufacturing Trading Down 4.0 %

American Axle & Manufacturing stock opened at $5.68 on Wednesday. American Axle & Manufacturing has a one year low of $5.41 and a one year high of $8.98. The business’s fifty day moving average is $6.20 and its 200 day moving average is $6.31. The stock has a market capitalization of $667.27 million, a PE ratio of 23.65 and a beta of 1.96. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.65 and a quick ratio of 1.29.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.25. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business earned ($0.11) EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, sell-side analysts predict that American Axle & Manufacturing will post 0.47 EPS for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of hedge funds have recently added to or reduced their stakes in AXL. Thrivent Financial for Lutherans grew its holdings in shares of American Axle & Manufacturing by 45.3% in the third quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after acquiring an additional 119,991 shares during the period. XTX Topco Ltd bought a new stake in shares of American Axle & Manufacturing during the 3rd quarter valued at about $62,000. Barclays PLC increased its position in shares of American Axle & Manufacturing by 274.4% during 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 during the last quarter. FMR LLC lifted its stake in shares of American Axle & Manufacturing by 25.8% in the 3rd quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock worth $3,160,000 after purchasing an additional 104,936 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of American Axle & Manufacturing by 540.2% in the third quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock worth $1,233,000 after buying an additional 168,348 shares during the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

American Axle & Manufacturing Company Profile

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.