American Axle & Manufacturing's (AXL) Sector Perform Rating Reiterated at Royal Bank of Canada

American Axle & Manufacturing (NYSE:AXL - Get Free Report)'s stock had its "sector perform" rating reaffirmed by Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the auto parts company's stock. Royal Bank of Canada's price objective would suggest a potential upside of 7.05% from the company's current price.

AXL has been the topic of a number of other reports. UBS Group lowered their price objective on American Axle & Manufacturing from $6.50 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday. StockNews.com downgraded shares of American Axle & Manufacturing from a "buy" rating to a "hold" rating in a report on Monday. Finally, Barclays reduced their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.75.

American Axle & Manufacturing Stock Performance

AXL traded down $0.28 during trading on Tuesday, hitting $5.61. The company's stock had a trading volume of 1,627,949 shares, compared to its average volume of 2,371,498. The business's 50 day simple moving average is $5.64 and its 200-day simple moving average is $6.05. The firm has a market cap of $659.04 million, a PE ratio of 20.02 and a beta of 1.94. American Axle & Manufacturing has a one year low of $4.70 and a one year high of $7.98. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 4.58.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its earnings results on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same period last year, the firm earned ($0.09) EPS. American Axle & Manufacturing's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that American Axle & Manufacturing will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On American Axle & Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its stake in American Axle & Manufacturing by 45.3% during the third quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company's stock valued at $2,380,000 after acquiring an additional 119,991 shares in the last quarter. XTX Topco Ltd bought a new position in shares of American Axle & Manufacturing during the 3rd quarter valued at about $62,000. Barclays PLC grew its position in shares of American Axle & Manufacturing by 274.4% during the third quarter. Barclays PLC now owns 199,795 shares of the auto parts company's stock valued at $1,234,000 after purchasing an additional 146,430 shares in the last quarter. FMR LLC increased its holdings in shares of American Axle & Manufacturing by 25.8% in the third quarter. FMR LLC now owns 511,378 shares of the auto parts company's stock worth $3,160,000 after purchasing an additional 104,936 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of American Axle & Manufacturing by 540.2% in the third quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company's stock worth $1,233,000 after buying an additional 168,348 shares in the last quarter. Institutional investors 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.