American Axle & Manufacturing Holdings Stock Rating Reaffirmed by Zacks (AXL)
American Axle & Manufacturing Holdings (NYSE:AXL)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Monday, Analyst RN reports. They currently have a $19.00 price target on the stock. Zacks‘ price objective points to a potential upside of 4.05% from the stock’s previous close.
Zacks‘ analyst wrote, “American Axle reported third-quarter 2013 adjusted earnings of $0.42 per share, surging from $0.07 per share in the comparable quarter of 2012. However it missed the Zacks Consensus Estimate of $0.55. Revenues went up 16.8% to $820.8 million, missing the Zacks Consensus Estimate of $859 million. The results benefited from new business launches, and higher production volumes of General Motors’s full-size pickups and SUVs and Chrysler’s new Ram Heavy Duty series pickups. The company should benefit from the new and incremental business to be launched. However, weak SUV demand, high commodity costs and pricing pressure by OEMs remain causes for concern. We, therefore, continue to recommend the shares of American Axle as Neutral and set a target price of $19.00.”
AXL has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “hold” rating on shares of American Axle & Manufacturing Holdings in a research note to investors on Monday. They now have a $20.00 price target on the stock, down previously from $22.00. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of American Axle & Manufacturing Holdings from $22.00 to $21.00 in a research note to investors on Monday, October 21st. They now have an “underweight” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. American Axle & Manufacturing Holdings has a consensus rating of “Hold” and an average target price of $20.60.
Shares of American Axle & Manufacturing Holdings (NYSE:AXL) traded down 1.20% on Monday, hitting $18.04. 1,560,458 shares of the company’s stock traded hands. American Axle & Manufacturing Holdings has a 52-week low of $9.27 and a 52-week high of $21.41. The stock’s 50-day moving average is $19.16 and its 200-day moving average is $18.22. The company has a market cap of $1.389 billion and a P/E ratio of 3.64.
American Axle & Manufacturing Holdings (NYSE:AXL) last announced its earnings results on Friday, November 1st. The company reported $0.41 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.57 by $0.16. The company had revenue of $820.80 million for the quarter, compared to the consensus estimate of $866.49 million. During the same quarter last year, the company posted $0.07 earnings per share. American Axle & Manufacturing Holdings’s revenue was up 16.8% compared to the same quarter last year. Analysts expect that American Axle & Manufacturing Holdings will post $1.74 EPS for the current fiscal year.
American Axle & Manufacturing Holdings, Inc (NYSE:AXL) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles.
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