Traders Purchase High Volume of American Axle & Manufacturing Put Options (NYSE:AXL)

American Axle & Manufacturing Holdings, Inc. (NYSE:AXLGet Free Report) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 3,000 put options on the company. This is an increase of 106% compared to the average daily volume of 1,453 put options.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXL. Royal Bank Of Canada restated a “sector perform” rating and issued a $5.00 price objective on shares of American Axle & Manufacturing in a report on Wednesday, April 16th. TD Cowen began coverage on American Axle & Manufacturing in a report on Friday, March 7th. They issued a “hold” rating and a $5.00 price objective for the company. Morgan Stanley decreased their price objective on American Axle & Manufacturing from $8.00 to $7.50 and set an “overweight” rating for the company in a report on Monday, May 19th. Cowen restated a “hold” rating on shares of American Axle & Manufacturing in a report on Monday, May 5th. Finally, Wall Street Zen upgraded American Axle & Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.93.

Check Out Our Latest Analysis on American Axle & Manufacturing

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in American Axle & Manufacturing by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 303,883 shares of the auto parts company’s stock worth $1,772,000 after acquiring an additional 3,161 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of American Axle & Manufacturing by 4.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,936 shares of the auto parts company’s stock valued at $424,000 after purchasing an additional 4,260 shares during the period. Hancock Whitney Corp raised its stake in shares of American Axle & Manufacturing by 23.8% in the 1st quarter. Hancock Whitney Corp now owns 26,603 shares of the auto parts company’s stock valued at $108,000 after purchasing an additional 5,110 shares during the period. QRG Capital Management Inc. raised its stake in shares of American Axle & Manufacturing by 38.6% in the 1st quarter. QRG Capital Management Inc. now owns 18,742 shares of the auto parts company’s stock valued at $76,000 after purchasing an additional 5,222 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of American Axle & Manufacturing by 11.3% in the 4th quarter. MetLife Investment Management LLC now owns 65,065 shares of the auto parts company’s stock valued at $379,000 after purchasing an additional 6,584 shares during the period. 91.41% of the stock is currently owned by institutional investors.

American Axle & Manufacturing Stock Performance

Shares of American Axle & Manufacturing stock opened at $4.21 on Friday. American Axle & Manufacturing has a one year low of $3.00 and a one year high of $7.65. The company has a debt-to-equity ratio of 4.38, a quick ratio of 1.35 and a current ratio of 1.72. The company has a market capitalization of $498.97 million, a PE ratio of 24.74 and a beta of 1.58. The company has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $4.81.

American Axle & Manufacturing (NYSE:AXLGet Free Report) last posted its quarterly earnings results on Friday, May 2nd. The auto parts company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. American Axle & Manufacturing had a return on equity of 8.70% and a net margin of 0.36%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.18 EPS. The firm’s revenue was down 12.2% on a year-over-year basis. Research analysts expect that American Axle & Manufacturing will post 0.57 EPS for the current fiscal year.

About American Axle & Manufacturing

(Get Free Report)

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.

Further Reading

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