American Axle & Manufacturing Holdings Inc. (AXL) Rating Decreased to Underperform at the FBR & Co

American Axle & Manufacturing Holdings Inc. (AXL) Rating Decreased to Underperform at the FBR & Co

American Axle & Manufacturing Holdings Inc. (NYSE:AXL) was downgraded by investment analysts at FBR & Co from a “market perform” rating to an “underperform” rating in a report released on Thursday. They currently have a $12.00 target price on the stock, down from their previous target price of $16.00. FBR & Co’s price target indicates a potential downside of 12.73% from the stock’s previous close.

AXL has been the topic of a number of other reports. RBC Capital Markets downgraded shares of American Axle & Manufacturing Holdings from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $16.00 to $17.00 in a research report on Monday, August 1st. They noted that the move was a valuation call. Barclays PLC increased their price target on shares of American Axle & Manufacturing Holdings from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 2nd. Credit Agricole SA downgraded shares of American Axle & Manufacturing Holdings from an “outperform” rating to an “underperform” rating in a research report on Friday, November 4th. Buckingham Research downgraded shares of American Axle & Manufacturing Holdings from a “buy” rating to a “neutral” rating in a research report on Thursday, November 3rd. Finally, Bank of America Corp. downgraded shares of American Axle & Manufacturing Holdings from a “neutral” rating to an “underperform” rating and cut their price target for the company from $20.00 to $13.00 in a research report on Wednesday, November 9th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.38.

Shares of American Axle & Manufacturing Holdings (NYSE:AXL) opened at 13.75 on Thursday. The company has a market capitalization of $1.05 billion, a P/E ratio of 4.19 and a beta of 1.54. The firm has a 50-day moving average of $16.68 and a 200 day moving average of $16.42. American Axle & Manufacturing Holdings has a 52-week low of $11.44 and a 52-week high of $22.98.

American Axle & Manufacturing Holdings (NYSE:AXL) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. American Axle & Manufacturing Holdings had a net margin of 6.48% and a return on equity of 61.64%. American Axle & Manufacturing Holdings’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, analysts anticipate that American Axle & Manufacturing Holdings will post $3.14 EPS for the current year.

In other American Axle & Manufacturing Holdings news, Director Samuel Valenti III purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average cost of $13.44 per share, with a total value of $134,400.00. Following the purchase, the director now directly owns 17,220 shares of the company’s stock, valued at $231,436.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.91% of the company’s stock.

Several institutional investors have recently modified their holdings of AXL. Vanguard Group Inc. boosted its position in shares of American Axle & Manufacturing Holdings by 9.2% in the second quarter. Vanguard Group Inc. now owns 9,198,004 shares of the company’s stock valued at $133,188,000 after buying an additional 772,019 shares in the last quarter. BlackRock Fund Advisors boosted its position in American Axle & Manufacturing Holdings by 8.1% in the third quarter. BlackRock Fund Advisors now owns 5,358,424 shares of the company’s stock valued at $92,272,000 after buying an additional 402,713 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in American Axle & Manufacturing Holdings by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,849,546 shares of the company’s stock valued at $49,069,000 after buying an additional 29,372 shares in the last quarter. Anchor Bolt Capital LP boosted its position in American Axle & Manufacturing Holdings by 161.2% in the second quarter. Anchor Bolt Capital LP now owns 2,495,935 shares of the company’s stock valued at $36,141,000 after buying an additional 1,540,254 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in American Axle & Manufacturing Holdings by 23.7% in the second quarter. Glenmede Trust Co. NA now owns 1,621,331 shares of the company’s stock valued at $23,475,000 after buying an additional 310,631 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

About American Axle & Manufacturing Holdings

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