American Axle & Manufacturing (NYSE:AXL) Given New $8.00 Price Target at Morgan Stanley

American Axle & Manufacturing (NYSE:AXL - Get Free Report) had its price objective lowered by investment analysts at Morgan Stanley from $10.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the auto parts company's stock. Morgan Stanley's target price suggests a potential upside of 68.42% from the stock's current price.

A number of other brokerages have also weighed in on AXL. Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a report on Tuesday, February 18th. StockNews.com lowered shares of American Axle & Manufacturing from a "buy" rating to a "hold" rating in a report on Monday, February 17th. UBS Group lowered their price target on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Barclays lowered their price target on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, American Axle & Manufacturing has an average rating of "Hold" and an average price target of $6.93.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL traded down $0.21 during trading on Monday, reaching $4.75. The stock had a trading volume of 2,428,959 shares, compared to its average volume of 2,397,487. American Axle & Manufacturing has a 52 week low of $4.70 and a 52 week high of $7.98. The business's 50-day moving average price is $5.51 and its 200 day moving average price is $5.99. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25. The stock has a market capitalization of $558.51 million, a PE ratio of 16.96 and a beta of 1.94.

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

Hedge Funds Weigh In On American Axle & Manufacturing

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