American Axle & Manufacturing Holdings Rating Reiterated by Zacks (AXL)
American Axle & Manufacturing Holdings (NYSE:AXL)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Monday, American Banking News.com reports. They currently have a $21.00 price objective on the stock. Zacks‘ price target indicates a potential upside of 7.36% from the stock’s previous close.
Zacks‘ analyst wrote, “American Axle reported fourth-quarter 2013 adjusted earnings of $0.70 per share, surpassing the Zacks Consensus Estimate of $0.51. Earnings per share rebounded from a loss of $0.02 in the comparable quarter of 2012. Revenues went up 12.8% to $831.3 million, missing the Zacks Consensus Estimate of $872 million. American Axle expects an increase in sales to $3.75-$3.8 billion in 2014. The company should benefit from the new and incremental businesses to be launched, increased manufacturing in low cost countries, efforts to diversify customer base and the rising cash balance. However, rising debt and pricing pressure by original equipment manufacturers (OEMs) remain causes for concern. Therefore, we maintain a Neutral recommendation on the stock.”
Shares of American Axle & Manufacturing Holdings (NYSE:AXL) traded up 0.72% on Monday, hitting $19.70. 234,415 shares of the company’s stock traded hands. American Axle & Manufacturing Holdings has a 1-year low of $11.85 and a 1-year high of $21.48. The stock’s 50-day moving average is $19.48 and its 200-day moving average is $19.4. The company has a market cap of $1.489 billion and a price-to-earnings ratio of 15.90.
American Axle & Manufacturing Holdings (NYSE:AXL) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.48 by $0.09. The company had revenue of $831.30 million for the quarter, compared to the consensus estimate of $864.10 million. During the same quarter last year, the company posted $4.21 earnings per share. American Axle & Manufacturing Holdings’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that American Axle & Manufacturing Holdings will post $2.41 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Ned Davis Research upgraded shares of American Axle & Manufacturing Holdings from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of American Axle & Manufacturing Holdings in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. American Axle & Manufacturing Holdings has a consensus rating of “Hold” and an average target price of $21.00.
In other American Axle & Manufacturing Holdings news, VP Allan Monich sold 19,500 shares of American Axle & Manufacturing Holdings stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $19.32, for a total transaction of $376,740.00. Following the transaction, the vice president now directly owns 37,868 shares in the company, valued at approximately $731,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.