American Axle & Manufacturing (NYSE:AXL) Price target cut to $11.00 by Morgan Stanley analysts

American Axle & Manufacturing (NYSE: AXL – Get a rating) saw its target price reduced by Morgan Stanley analysts from $13.00 to $11.00 in a research report released Thursday to clients and investors, Benzinga reports. The company currently has an “overweight” rating on shares of the auto parts company. Morgan Stanley’s target price indicates a potential upside of 42.12% from the current stock price.

AXL has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut its price target on American Axle & Manufacturing shares from $10.00 to $8.00 and set a “hold” rating on the stock in a Thursday 21 research note. april. Citigroup reduced its price target on American Axle & Manufacturing shares from $9.00 to $8.00 in a Tuesday, April 5 research note. Exane BNP Paribas took over coverage of American Axle & Manufacturing shares in a Monday, April 11 research note. They issued a “neutral” rating on the title. BNP Paribas assumed coverage for American Axle & Manufacturing shares in a Monday, April 11 research note. They issued a “neutral” rating and a target price of $7.00 on the stock. To finish, StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a Friday, June 3 research note. One research analyst rated the stock with a sell rating, three gave the stock a hold rating, and two gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.80.

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AXL opened at $7.74 on Thursday. American Axle & Manufacturing has a fifty-two week low of $6.36 and a fifty-two week high of $10.91. The company has a debt ratio of 6.32, a current ratio of 1.77 and a quick ratio of 1.41. The company’s fifty-day moving average price is $7.78 and its two-hundred-day moving average price is $8.04. The company has a market capitalization of $886.15 million, a P/E ratio of -26.69, a P/E/G ratio of 1.14 and a beta of 2.12.

American Axle & Manufacturing (NYSE: AXL – Get a rating) last released its quarterly results on Friday, May 6. The auto parts company reported earnings per share of $0.19 for the quarter, beating analysts’ consensus estimate of $0.01 ($0.01) by $0.20. American Axle & Manufacturing posted a negative net margin of 0.61% and a positive return on equity of 14.39%. The company posted revenue of $1.44 billion for the quarter, versus a consensus estimate of $1.36 billion. In the same quarter of the previous year, the company had earned earnings per share of $0.57. The company’s revenues increased by 0.8% compared to the same quarter last year. On average, equity research analysts expect American Axle & Manufacturing to post 0.84 EPS for the current fiscal year.

Several institutional investors have recently increased or reduced their stake in AXL. UBS Asset Management Americas Inc. increased its holdings of American Axle & Manufacturing shares by 22.0% in the third quarter. UBS Asset Management Americas Inc. now owns 203,580 shares of the auto parts company valued at $1,794,000 after buying 36,644 additional shares in the last quarter. Sciencast Management LP acquired a new stake in American Axle & Manufacturing during the 4th quarter for a value of approximately $182,000. Highland Capital Management LLC acquired a new stake in American Axle & Manufacturing during the 4th quarter for a value of approximately $123,000. Allspring Global Investments Holdings LLC purchased a new stake in American Axle & Manufacturing during Q4 for approximately $1,289,000. Finally, Yousif Capital Management LLC acquired a new stake in American Axle & Manufacturing during the 4th quarter for a value of approximately $985,000. 91.73% of the shares are held by institutional investors and hedge funds.

About American Axle and Manufacturing (Get a rating)

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers and manufactures drivetrain and metal forming technologies that support electric, hybrid and internal combustion vehicles in the United States, Mexico, South America South, China and other Asian countries, and Europe.

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