TD Cowen Initiates Coverage on American Axle & Manufacturing (NYSE:AXL)

TD Cowen began coverage on shares of American Axle & Manufacturing (NYSE:AXL - Free Report) in a report issued on Friday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $5.00 target price on the auto parts company's stock.

Other research analysts have also issued reports about the company. Barclays reduced their price target on American Axle & Manufacturing from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 22nd. StockNews.com lowered American Axle & Manufacturing from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Morgan Stanley reduced their price target on American Axle & Manufacturing from $10.00 to $8.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research report on Tuesday, February 18th. Finally, UBS Group reduced their price target on American Axle & Manufacturing from $6.50 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.69.

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American Axle & Manufacturing Trading Down 2.6 %

AXL traded down $0.13 during mid-day trading on Friday, reaching $4.67. The stock had a trading volume of 2,288,576 shares, compared to its average volume of 1,714,920. The stock has a market capitalization of $548.52 million, a P/E ratio of 16.66 and a beta of 1.85. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63. The firm's fifty day simple moving average is $5.41 and its two-hundred day simple moving average is $5.95. American Axle & Manufacturing has a 52 week low of $4.45 and a 52 week high of $7.98.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. On average, equities analysts predict that American Axle & Manufacturing will post 0.57 EPS for the current year.

Institutional Trading of American Axle & Manufacturing

Several hedge funds and other institutional investors have recently modified their holdings of AXL. Vanguard Group Inc. increased its position in shares of American Axle & Manufacturing by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company's stock valued at $91,608,000 after acquiring an additional 462,847 shares during the last quarter. State Street Corp increased its position in shares of American Axle & Manufacturing by 0.5% in the third quarter. State Street Corp now owns 4,704,889 shares of the auto parts company's stock valued at $29,076,000 after acquiring an additional 23,538 shares during the last quarter. American Century Companies Inc. increased its position in shares of American Axle & Manufacturing by 12.4% in the fourth quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company's stock valued at $22,483,000 after acquiring an additional 426,933 shares during the last quarter. Geode Capital Management LLC increased its position in shares of American Axle & Manufacturing by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,654,883 shares of the auto parts company's stock valued at $16,411,000 after acquiring an additional 21,054 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of American Axle & Manufacturing by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company's stock valued at $15,837,000 after acquiring an additional 65,535 shares during the last quarter. Institutional investors and hedge funds own 91.41% of the company's stock.

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.