American Axle & Manufacturing (NYSE:AXL) Reaches New 52-Week High – Here’s What Happened

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price reached a new 52-week high on Thursday . The company traded as high as $6.81 and last traded at $6.7340, with a volume of 929426 shares. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

Several research firms have recently commented on AXL. Morgan Stanley set a $7.00 price target on American Axle & Manufacturing in a research report on Monday, December 8th. Royal Bank Of Canada upgraded shares of American Axle & Manufacturing from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $6.00 to $8.00 in a research note on Tuesday, September 2nd. Stifel Nicolaus lifted their price objective on shares of American Axle & Manufacturing from $6.00 to $7.00 and gave the company a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Axle & Manufacturing in a research note on Monday. Finally, Wall Street Zen raised shares of American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.08.

American Axle & Manufacturing Stock Down 0.7%

The business’s 50 day moving average is $6.25 and its 200-day moving average is $5.54. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.77 and a quick ratio of 1.43. The company has a market cap of $789.36 million, a PE ratio of 20.15, a P/E/G ratio of 0.96 and a beta of 1.58.

American Axle & Manufacturing (NYSE:AXL) last released 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. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. American Axle & Manufacturing had a net margin of 0.72% and a return on equity of 7.92%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. As a group, analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several hedge funds have recently added to or reduced their stakes in AXL. UBS Group AG boosted its stake in American Axle & Manufacturing by 760.8% in the third quarter. UBS Group AG now owns 3,503,827 shares of the auto parts company’s stock valued at $21,058,000 after acquiring an additional 3,096,778 shares in the last quarter. Highland Peak Capital LLC boosted its position in shares of American Axle & Manufacturing by 72.7% in the 3rd quarter. Highland Peak Capital LLC now owns 4,909,688 shares of the auto parts company’s stock valued at $29,507,000 after purchasing an additional 2,066,924 shares during the period. Woodline Partners LP purchased a new position in American Axle & Manufacturing during the 3rd quarter worth approximately $11,470,000. Arrowstreet Capital Limited Partnership increased its position in American Axle & Manufacturing by 615.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,879,668 shares of the auto parts company’s stock worth $7,669,000 after buying an additional 1,617,069 shares during the period. Finally, Masters Capital Management LLC acquired a new stake in shares of American Axle & Manufacturing in the third quarter valued at approximately $7,212,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

American Axle & Manufacturing Company Profile

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.