American Axle & Manufacturing (NYSE:AXL) Price Target Raised to $12.00

American Axle & Manufacturing (NYSE:AXL) had its target price upped by Royal Bank Of Canada from $9.00 to $12.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the auto parts company’s stock.

AXL has been the subject of several other reports. UBS Group boosted their target price on shares of American Axle & Manufacturing from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Axle & Manufacturing in a research note on Monday, December 29th. Wall Street Zen raised shares of American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. Stifel Nicolaus raised their target price on American Axle & Manufacturing from $6.00 to $7.00 and gave the company a “hold” rating in a report on Monday, October 20th. Finally, Morgan Stanley set a $7.00 price target on American Axle & Manufacturing in a research note on Monday, December 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

American Axle & Manufacturing Trading Up 1.5%

American Axle & Manufacturing stock opened at $8.27 on Friday. American Axle & Manufacturing has a 12 month low of $3.00 and a 12 month high of $8.63. The company has a quick ratio of 1.43, a current ratio of 1.77 and a debt-to-equity ratio of 3.61. The stock has a market cap of $981.06 million, a P/E ratio of 25.05 and a beta of 1.58. The company’s fifty day simple moving average is $6.77 and its 200-day simple moving average is $6.06.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, November 7th. The auto parts company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. American Axle & Manufacturing had a return on equity of 7.92% and a net margin of 0.72%.The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $0.20 earnings per share. American Axle & Manufacturing’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that American Axle & Manufacturing will post 0.57 EPS for the current fiscal year.

Institutional Trading of American Axle & Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXL. Hantz Financial Services Inc. lifted its holdings in shares of American Axle & Manufacturing by 267.7% during the third quarter. Hantz Financial Services Inc. now owns 4,383 shares of the auto parts company’s stock worth $26,000 after buying an additional 3,191 shares during the last quarter. Signaturefd LLC boosted its holdings in American Axle & Manufacturing by 825.6% in the 2nd quarter. Signaturefd LLC now owns 6,979 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 6,225 shares during the period. Riverbend Wealth Management LLC bought a new stake in American Axle & Manufacturing in the 2nd quarter valued at $42,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in American Axle & Manufacturing in the 2nd quarter worth $47,000. Finally, Quarry LP acquired a new stake in American Axle & Manufacturing in the 3rd quarter worth $50,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc (NYSE: AXL) is a global designer, engineer and manufacturer of driveline and drivetrain systems and components for light vehicles, commercial trucks and off-highway applications. The company’s core product portfolio includes axles, driveshafts, half-shafts, drive module assemblies and differential gears, as well as advanced metallic and composite structures for electric and hybrid vehicles. AAM’s capabilities also encompass system testing, rapid prototyping and precision machining to support both high-volume production and low-volume, specialty vehicle applications.

Founded in 1994 following the divestiture of the Detroit Axle Division of General Motors, American Axle & Manufacturing completed its initial public offering in 1998.