American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “American Axle’s earnings and revenues beat the Zacks Consensus Estimate in the second quarter. Compared with the year-ago figures, both earnings per share and revenues were higher. The recent acquisition of Metaldyne Performance Group will help the company widen its operating scale, customer base as well as end markets, thus enabling it to generate record sales. The company’s strong cash flow will help it boost the shareholders’ value. It also expects to achieve record sales and profits in 2017. However, the pressure from Original Equipment Manufacturers to lower product pricing will hamper its financial condition. Other concerns faced by American Axle are rising capital expenditure and dependence on sectors, having maximum production cuts, which might hit the company’s production. Also in the last six months, its shares have underperformed the industry it belongs to.”

Other research analysts also recently issued research reports about the stock. CLSA initiated coverage on shares of American Axle & Manufacturing Holdings in a report on Thursday, June 22nd. They set a “buy” rating and a $18.00 price target on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $22.00 target price (down previously from $24.00) on shares of American Axle & Manufacturing Holdings in a report on Thursday, June 22nd. Guggenheim began coverage on shares of American Axle & Manufacturing Holdings in a report on Wednesday, June 21st. They issued a “buy” rating and a $18.00 target price on the stock. ValuEngine downgraded shares of American Axle & Manufacturing Holdings from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Off Wall Street began coverage on shares of American Axle & Manufacturing Holdings in a report on Thursday, July 13th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. American Axle & Manufacturing Holdings currently has an average rating of “Hold” and an average price target of $19.90.

Shares of American Axle & Manufacturing Holdings (NYSE AXL) traded up 1.42% during mid-day trading on Friday, reaching $14.29. The company had a trading volume of 1,669,069 shares. The stock has a market capitalization of $1.59 billion, a P/E ratio of 4.92 and a beta of 1.34. American Axle & Manufacturing Holdings has a 52-week low of $12.61 and a 52-week high of $21.25. The company’s 50-day moving average is $15.56 and its 200 day moving average is $17.64.

American Axle & Manufacturing Holdings (NYSE:AXL) last released its quarterly earnings results on Friday, July 28th. The auto parts company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. American Axle & Manufacturing Holdings had a net margin of 5.32% and a return on equity of 42.42%. American Axle & Manufacturing Holdings’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. Analysts anticipate that American Axle & Manufacturing Holdings will post $3.18 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in American Axle & Manufacturing Holdings during the first quarter valued at about $104,000. Public Employees Retirement System of Ohio increased its position in American Axle & Manufacturing Holdings by 6.2% in the first quarter. Public Employees Retirement System of Ohio now owns 6,538 shares of the auto parts company’s stock valued at $123,000 after buying an additional 380 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in American Axle & Manufacturing Holdings during the first quarter valued at about $124,000. State of Alaska Department of Revenue increased its position in American Axle & Manufacturing Holdings by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 8,440 shares of the auto parts company’s stock valued at $158,000 after buying an additional 170 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in American Axle & Manufacturing Holdings during the second quarter valued at about $162,000.

American Axle & Manufacturing Holdings Company Profile

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

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Analyst Recommendations for American Axle & Manufacturing Holdings (NYSE:AXL)

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