American Axle & Manufacturing (NYSE:DCH) Trading Up 17.9% After Strong Earnings

American Axle & Manufacturing Holdings, Inc. (NYSE:DCH)’s stock price traded up 17.9% on Friday following a better than expected earnings announcement. The stock traded as high as $6.65 and last traded at $6.6850. Approximately 1,365,848 shares changed hands during trading, a decline of 74% from the average daily volume of 5,189,799 shares. The stock had previously closed at $5.67.

The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.18. The company had revenue of $2.96 billion for the quarter. American Axle & Manufacturing had a negative net margin of 1.87% and a positive return on equity of 13.65%.

Analysts Set New Price Targets

DCH has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on American Axle & Manufacturing in a report on Tuesday, July 7th. They set a “neutral” rating and a $8.00 price target on the stock. UBS Group dropped their price target on shares of American Axle & Manufacturing from $9.50 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Barclays assumed coverage on shares of American Axle & Manufacturing in a report on Monday, June 22nd. They set an “equal weight” rating and a $8.00 price target for the company. TD Cowen dropped their target price on American Axle & Manufacturing from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of American Axle & Manufacturing in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.43.

American Axle & Manufacturing Trading Up 19.8%

The firm has a 50 day moving average price of $5.78. The stock has a market cap of $1.61 billion, a P/E ratio of -8.94, a price-to-earnings-growth ratio of 0.26 and a beta of 1.60. The company has a quick ratio of 1.04, a current ratio of 1.40 and a debt-to-equity ratio of 3.43.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing is a U.S.-based designer, engineer and manufacturer of driveline and drivetrain systems and components for the automotive and light- and heavy-vehicle markets. The company produces a range of mechanical and electromechanical products including axles, driveshafts, differential systems, halfshafts, transmission components, and related sealing and suspension parts. Its product portfolio serves passenger cars, light trucks, commercial vehicles and off-highway applications.

Beyond component manufacturing, the company provides integrated engineering services such as product development, testing and system integration to help vehicle manufacturers meet performance, weight and fuel-economy targets.