Zacks Investment Research upgraded shares of American Axle & Manufact. (NYSE:AXL) from a hold rating to a buy rating in a research note issued to investors on Monday morning. Zacks Investment Research currently has $19.00 target price on the auto parts company’s stock.
According to Zacks, “American Axle is making efforts to diversify its business, products and customer base to generate incremental revenues. Earlier in June, the company signed a business contract with Ford to provide power transfer units for the latter’s crossover vehicles. The deal is likely to enable American Axle to showcase its product and grow its customer base to generate incremental revenues. Further, the company anticipates to achieve record sales and profits in 2018.”
A number of other analysts have also issued reports on AXL. ValuEngine raised American Axle & Manufact. from a sell rating to a hold rating in a report on Monday, June 18th. TheStreet raised American Axle & Manufact. from a c+ rating to a b- rating in a report on Wednesday, August 8th. Finally, Wolfe Research initiated coverage on American Axle & Manufact. in a report on Tuesday, October 2nd. They issued an outperform rating on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. American Axle & Manufact. presently has a consensus rating of Hold and an average target price of $19.13.
AXL opened at $17.77 on Monday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 4.74, a price-to-earnings-growth ratio of 0.55 and a beta of 1.42. The company has a current ratio of 1.62, a quick ratio of 1.30 and a debt-to-equity ratio of 2.19. American Axle & Manufact. has a 12-month low of $13.95 and a 12-month high of $20.27.
American Axle & Manufact. (NYSE:AXL) last released its earnings results on Friday, August 3rd. The auto parts company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.14. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.83 billion. American Axle & Manufact. had a return on equity of 28.88% and a net margin of 6.00%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. Research analysts expect that American Axle & Manufact. will post 3.9 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in AXL. BlackRock Inc. grew its holdings in shares of American Axle & Manufact. by 10.1% during the 2nd quarter. BlackRock Inc. now owns 14,468,400 shares of the auto parts company’s stock worth $225,129,000 after purchasing an additional 1,327,564 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of American Axle & Manufact. by 227.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,638,608 shares of the auto parts company’s stock worth $24,940,000 after purchasing an additional 1,138,797 shares in the last quarter. KBC Group NV acquired a new stake in shares of American Axle & Manufact. during the 2nd quarter worth approximately $8,935,000. City Financial Investment Co Ltd acquired a new stake in shares of American Axle & Manufact. during the 2nd quarter worth approximately $8,628,000. Finally, Glenmede Trust Co. NA grew its holdings in shares of American Axle & Manufact. by 14.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 2,882,423 shares of the auto parts company’s stock worth $44,851,000 after purchasing an additional 367,819 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors.
American Axle & Manufact. Company Profile
American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, 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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