Citigroup Increases American Axle & Manufacturing (NYSE:AXL) Price Target to $8.00

American Axle & Manufacturing (NYSE:AXL) had its price objective hoisted by stock analysts at Citigroup from $7.50 to $8.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s target price would indicate a potential upside of 5.54% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. UBS Group raised their target price on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, American Axle & Manufacturing presently has a consensus rating of “Hold” and an average price target of $8.00.

American Axle & Manufacturing Trading Down 1.0 %

Shares of American Axle & Manufacturing stock opened at $7.58 on Monday. American Axle & Manufacturing has a 12-month low of $6.29 and a 12-month high of $9.55. The company has a market cap of $890.95 million, a price-to-earnings ratio of -108.27, a PEG ratio of 2.69 and a beta of 2.19. The company has a current ratio of 1.69, a quick ratio of 1.31 and a debt-to-equity ratio of 4.40. The company’s 50-day moving average price is $7.11 and its 200-day moving average price is $7.50.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, May 3rd. The auto parts company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.16. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, equities analysts expect that American Axle & Manufacturing will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AXL. Vanguard Personalized Indexing Management LLC bought a new position in shares of American Axle & Manufacturing in the third quarter worth approximately $76,000. GAMMA Investing LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter worth approximately $76,000. QRG Capital Management Inc. bought a new position in shares of American Axle & Manufacturing in the third quarter worth approximately $84,000. Jump Financial LLC bought a new position in shares of American Axle & Manufacturing in the third quarter worth approximately $141,000. Finally, MGO One Seven LLC grew its holdings in shares of American Axle & Manufacturing by 18.2% in the third quarter. MGO One Seven LLC now owns 19,661 shares of the auto parts company’s stock worth $143,000 after purchasing an additional 3,022 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.