American Axle & Manufacturing Holdings, Inc. (NYSE:DCH – Get Free Report)’s share price gapped up before the market opened on Tuesday after TD Cowen upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $6.99, but opened at $7.37. TD Cowen now has a $10.00 price target on the stock, up from their previous price target of $8.00. American Axle & Manufacturing shares last traded at $7.2050, with a volume of 522,836 shares traded.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of American Axle & Manufacturing in a research report on Tuesday, July 7th. They issued a “neutral” rating and a $8.00 price objective on the stock. Barclays lifted their price objective on shares of American Axle & Manufacturing from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. BWS Financial reissued a “buy” rating and issued a $17.00 target price on shares of American Axle & Manufacturing in a report on Monday, August 10th. UBS Group cut their price target on American Axle & Manufacturing from $9.50 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Stifel Nicolaus lifted their price target on American Axle & Manufacturing from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.14.
Check Out Our Latest Stock Analysis on American Axle & Manufacturing
American Axle & Manufacturing Trading Up 3.1%
American Axle & Manufacturing (NYSE:DCH – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.14 by $0.18. American Axle & Manufacturing had a negative net margin of 2.01% and a positive return on equity of 15.94%. The firm had revenue of $2.96 billion for the quarter. On average, sell-side analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.96 earnings per share for the current year.
American Axle & Manufacturing Company Profile
American Axle & Manufacturing is a U.S.-based designer, engineer and manufacturer of driveline and drivetrain systems and components for the automotive and light- and heavy-vehicle markets. The company produces a range of mechanical and electromechanical products including axles, driveshafts, differential systems, halfshafts, transmission components, and related sealing and suspension parts. Its product portfolio serves passenger cars, light trucks, commercial vehicles and off-highway applications.
Beyond component manufacturing, the company provides integrated engineering services such as product development, testing and system integration to help vehicle manufacturers meet performance, weight and fuel-economy targets.
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