American Axle & Manufacturing (NYSE:AXL) Shares Up 5.9% After Better-Than-Expected Earnings

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was up 5.9% on Monday following a stronger than expected earnings report. The company traded as high as $4.25 and last traded at $4.23. Approximately 525,458 shares traded hands during trading, a decline of 71% from the average daily volume of 1,838,914 shares. The stock had previously closed at $3.99.

The auto parts company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was down 12.2% on a year-over-year basis.

Analysts Set New Price Targets

Several research firms have commented on AXL. StockNews.com downgraded American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Barclays decreased their price target on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. TD Cowen began coverage on shares of American Axle & Manufacturing in a research note on Friday, March 7th. They issued a “hold” rating and a $5.00 price objective for the company. Cowen reiterated a “hold” rating on shares of American Axle & Manufacturing in a research report on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $5.00 price target on shares of American Axle & Manufacturing in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, American Axle & Manufacturing has a consensus rating of “Hold” and a consensus target price of $6.00.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXL. Lazard Asset Management LLC bought a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at about $51,000. Ethic Inc. bought a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at $59,000. Ground Swell Capital LLC acquired a new stake in American Axle & Manufacturing during the 4th quarter worth $61,000. Golden State Equity Partners bought a new position in American Axle & Manufacturing during the first quarter worth about $61,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in American Axle & Manufacturing in the fourth quarter valued at about $62,000. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Price Performance

The company has a fifty day moving average price of $3.97 and a two-hundred day moving average price of $5.25. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The firm has a market cap of $491.08 million, a P/E ratio of 14.82 and a beta of 1.71.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.