American Axle & Manufact. (AXL) Price Target Cut to $22.00 by Analysts at Citigroup

American Axle & Manufact. (NYSE:AXL) had its target price reduced by equities researchers at Citigroup from $23.00 to $22.00 in a report released on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the auto parts company’s stock. Citigroup’s price target indicates a potential upside of 38.71% from the stock’s current price.

A number of other equities research analysts have also issued reports on AXL. ValuEngine upgraded shares of American Axle & Manufact. from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Zacks Investment Research upgraded shares of American Axle & Manufact. from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Monday, October 8th. Wolfe Research began coverage on shares of American Axle & Manufact. in a report on Tuesday, October 2nd. They set an “outperform” rating on the stock. Finally, TheStreet upgraded shares of American Axle & Manufact. from a “c+” rating to a “b-” rating in a report on Wednesday, August 8th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. American Axle & Manufact. presently has an average rating of “Hold” and a consensus price target of $19.38.

AXL stock opened at $15.86 on Friday. American Axle & Manufact. has a 52-week low of $13.95 and a 52-week high of $20.27. The company has a current ratio of 1.62, a quick ratio of 1.30 and a debt-to-equity ratio of 2.19. The company has a market cap of $1.95 billion, a PE ratio of 4.23, a PEG ratio of 0.55 and a beta of 1.42.

American Axle & Manufact. (NYSE:AXL) last released its quarterly earnings results on Friday, August 3rd. The auto parts company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.14. American Axle & Manufact. had a net margin of 6.00% and a return on equity of 28.88%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that American Axle & Manufact. will post 3.9 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in American Axle & Manufact. by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,419,979 shares of the auto parts company’s stock valued at $45,836,000 after buying an additional 62,645 shares during the period. California State Teachers Retirement System increased its stake in American Axle & Manufact. by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 140,464 shares of the auto parts company’s stock valued at $2,660,000 after buying an additional 2,198 shares during the period. LSV Asset Management increased its stake in American Axle & Manufact. by 0.3% in the 3rd quarter. LSV Asset Management now owns 1,406,402 shares of the auto parts company’s stock valued at $24,218,000 after buying an additional 4,800 shares during the period. GSA Capital Partners LLP increased its stake in American Axle & Manufact. by 246.1% in the 4th quarter. GSA Capital Partners LLP now owns 74,789 shares of the auto parts company’s stock valued at $1,417,000 after buying an additional 53,182 shares during the period. Finally, Foundry Partners LLC increased its stake in American Axle & Manufact. by 15.1% in the 1st quarter. Foundry Partners LLC now owns 889,123 shares of the auto parts company’s stock valued at $16,698,000 after buying an additional 116,381 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

About American Axle & Manufact.

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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