American Axle & Manufacturing (NYSE:DCH) Shares Down 6.2% After Analyst Downgrade

American Axle & Manufacturing Holdings, Inc. (NYSE:DCH) shares dropped 6.2% during mid-day trading on Thursday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $7.10 price target on the stock, down from their previous price target of $8.25. American Axle & Manufacturing traded as low as $5.35 and last traded at $5.3250. 1,629,784 shares changed hands during trading, a decline of 66% from the average session volume of 4,781,048 shares. The stock had previously closed at $5.68.

DCH has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Axle & Manufacturing in a report on Friday, September 4th. Barclays upped their target price on American Axle & Manufacturing from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. UBS Group reduced their price target on American Axle & Manufacturing from $9.50 to $9.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. TD Cowen upgraded American Axle & Manufacturing from a “hold” rating to a “buy” rating and raised their target price for the company from $8.00 to $10.00 in a research report on Tuesday, September 8th. Finally, Royal Bank Of Canada increased their price target on American Axle & Manufacturing from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, American Axle & Manufacturing has a consensus rating of “Hold” and an average target price of $9.76.

American Axle & Manufacturing Stock Down 6.9%

The company has a 50-day moving average of $6.20. The company has a quick ratio of 1.02, a current ratio of 1.40 and a debt-to-equity ratio of 3.32. The stock has a market cap of $1.26 billion, a PE ratio of -4.94, a PEG ratio of 0.20 and a beta of 1.63.

American Axle & Manufacturing (NYSE:DCH) last announced its earnings results on Friday, August 7th. The company reported $0.32 earnings per share (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 company had revenue of $2.96 billion for the quarter. As a group, equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.96 EPS for the current fiscal year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc is a global automotive supplier that designs, engineers and manufactures driveline and metal-forming systems for light trucks, SUVs, passenger cars and commercial vehicles. Its products include axles, driveshafts, differentials, transfer cases and other drivetrain components that transmit power from a vehicle’s engine or electric motor to its wheels.

The company also produces components and systems through its metal-forming, casting, machining and engineering operations.