American Axle & Manufact. Holdings, Inc. (NYSE:AXL)’s share price fell 14.2% during mid-day trading on Friday . The company traded as low as $8.58 and last traded at $8.77, 5,076,073 shares changed hands during mid-day trading. An increase of 235% from the average session volume of 1,514,719 shares. The stock had previously closed at $10.22.
Several research analysts have recently commented on AXL shares. ValuEngine raised shares of American Axle & Manufact. from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Buckingham Research upgraded shares of American Axle & Manufact. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $12.00 in a research note on Friday, January 24th. Finally, Barclays cut shares of American Axle & Manufact. from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. American Axle & Manufact. presently has an average rating of “Buy” and a consensus price target of $14.60.
The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -2.48, a price-to-earnings-growth ratio of 0.57 and a beta of 2.35. The stock has a 50-day moving average of $9.77 and a 200-day moving average of $9.07. The company has a current ratio of 1.78, a quick ratio of 1.45 and a debt-to-equity ratio of 2.61.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in American Axle & Manufact. by 2.4% in the 2nd quarter. BlackRock Inc. now owns 16,865,767 shares of the auto parts company’s stock valued at $215,209,000 after purchasing an additional 389,512 shares during the last quarter. Smith Graham & Co. Investment Advisors LP increased its stake in shares of American Axle & Manufact. by 38.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 921,665 shares of the auto parts company’s stock valued at $7,576,000 after purchasing an additional 255,004 shares during the period. FMR LLC increased its stake in shares of American Axle & Manufact. by 10.5% in the first quarter. FMR LLC now owns 2,120,256 shares of the auto parts company’s stock valued at $30,340,000 after purchasing an additional 201,300 shares during the period. Anchor Bolt Capital LP bought a new stake in shares of American Axle & Manufact. during the fourth quarter valued at approximately $2,138,000. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in shares of American Axle & Manufact. during the fourth quarter valued at approximately $1,834,000. 97.85% of the stock is currently owned by hedge funds and other institutional investors.
About American Axle & Manufact. (NYSE:AXL)
American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.
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