American Axle & Manufacturing (NYSE:AXL) Shares Gap Down - Here's Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $4.79, but opened at $4.67. American Axle & Manufacturing shares last traded at $4.71, with a volume of 68,246 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com cut American Axle & Manufacturing from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. UBS Group dropped their target price 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. Morgan Stanley lowered their price target on American Axle & Manufacturing from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. TD Cowen assumed coverage on American Axle & Manufacturing in a report on Friday. They set a "hold" rating and a $5.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $6.69.

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American Axle & Manufacturing Trading Down 2.6 %

The firm has a market cap of $548.52 million, a P/E ratio of 16.66 and a beta of 1.85. The company has a 50 day moving average of $5.41 and a 200 day moving average of $5.95. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.39 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The firm's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) EPS. Analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On American Axle & Manufacturing

Large investors have recently made changes to their positions in the company. KBC Group NV grew its stake in shares of American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company's stock valued at $44,000 after buying an additional 3,211 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in American Axle & Manufacturing in the 4th quarter worth approximately $51,000. Ethic Inc. acquired a new stake in American Axle & Manufacturing in the 4th quarter worth approximately $59,000. Ground Swell Capital LLC acquired a new stake in American Axle & Manufacturing in the 4th quarter worth approximately $61,000. Finally, XTX Topco Ltd acquired a new stake in American Axle & Manufacturing in the 3rd quarter worth approximately $62,000. Institutional investors own 91.41% of the company's stock.

American Axle & Manufacturing Company Profile

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.