Research analysts at StockNews.com announced on Thursday, in a report made available to the public, that they will begin covering American Axle & Manufacturing (NYSE: AXL).
The company strongly suggested that potential investors acquire the parent company’s shares of the automotive components manufacturer.
The most recent quarterly earnings report for American Axle & Manufacturing (NYSE: AXL) was announced in a press release on Friday, February 17.
The auto parts manufacturer announced earnings per share (EPS) for the quarter to be $0.07, which was $0.08 less than the average analyst’s projection of $0.01.
The revenue the company generated during the period in question came in at $1.39 billion, by what projections made by market analysts indicated it would be.
The performance of American Axle & Manufacturing was quite satisfactory, as evidenced by the company’s return on equity of 14.06% and its net margin of 1.11%, respectively. Compared to the previous year, the company’s quarterly sales experienced an annual growth rate of 12.5% higher.
The company reported a loss of $0.09 per share for the same quarter it had reported the previous year. Sell-side analysts anticipate that American Axle & Manufacturing will generate $0.58 per share in the current fiscal year.
This information was taken from the company’s most recent quarterly report.
When trading started on Thursday, each American Axle & Manufacturing share was priced at $7.66.
The ratio of the current ratio to the quick ratio is 1.28, and the ratio of the quick ratio to the current ratio is 1.66.
The debt-to-equity ratio is 4.54, and the quick ratio to the current ratio is 1.28. Over the previous year, the price of an American Axle & Manufacturing product ranged from a low of $6.36 to a high of $11.96.
The company’s price has a moving average of $8.88 over the past 50 days and an average price of $8.90 over the last 200 days.
The company has a P.E. ratio of 14.45, a P/E/G ratio of 1.80, and a beta value of 2.27.
Its market capitalization is currently sitting at $877.68 million at the moment.
In the reports of several other analysts, AXL has been the subject of discussion on more than one occasion. Citigroup decreased their target price for American Axle & Manufacturing from $10.00 to $9.00 and downgraded the company’s rating from “neutral” to “underweight” in a published research note on Tuesday.
Barclays lowered its recommendation for American Axle & Manufacturing from “equal weight” to “underperform” in a research report that was made public on February 22.
Two research experts have suggested that investors buy the stock, while seven others have stated that investors should keep their holdings the same.
The consensus recommendation regarding American Axle & Manufacturing is to “hold” the stock, and the price objective has been established at $9.83 per share.
This information was obtained from Bloomberg.com.
In addition, Vice President David Eugene Barnes sold 29,533 shares of American Axle & Manufacturing stock on March 1.
The market saw 265 797 dollars’ worth of shares change hands, with the average price at which they were sold being $9.00 per share.
After the completion of the deal, the company’s vice president now has direct ownership of 104,621 shares of the company’s stock, which are worth $941,589.
If you follow this link, you will be taken to a file submitted to the SEC, which will provide you with additional information regarding the sale. 2.10 employees and other company insiders currently hold a percent of the company’s ownership.
Recent months have seen several significant investors change their holdings’ allocation in AXL.
Bank of Montreal Canada increased the amount of American Axle & Manufacturing stock owned by 20.7% over the first three months of 2018. Following the acquisition of 7,940 additional shares during the most recent quarter, the Bank of Montreal now holds 46,317 shares of the auto parts company.
The aggregate worth of these holdings is 370 thousand dollars.
During the first three months of the fiscal year, MetLife Investment Management LLC increased the amount of money it had invested in American Axle & Manufacturing by 95.9%. Following acquiring 29,891 shares during the most recent quarter, MetLife Investment Management LLC now owns 61,060 shares in the auto parts company.
These shares are currently valued at $474,000 because they were bought.
The holdings of American Axle & Manufacturing, owned by the State of Pennsylvania Public School Employees Retirement System, increased by 14.1% during the first quarter of this year.
The Commonwealth of Pennsylvania Public School Empls Retrmt SYS now has 98,332 shares in the company, which have a value of $763,000, thanks to the purchase of an additional 12,124 shares in the auto parts company during the most recent fiscal quarter.
APG Asset Management N.V.
Paid approximately $466,000 to acquire a new stake in American Axle & Manufacturing during the year’s first three months.
During the first three months of 2018, Great West Life Assurance Company of Canada increased the proportion of its holdings allocated to American Axle & Manufacturing by 2%. Great West Life Assurance Company owns 105,521 shares in the auto parts company.
The current market value of these holdings is $843,000.
This was accomplished by purchasing an additional 2,040 shares during the most recent fiscal quarter to meet the requirements. Hedge funds and other institutional investors own 95.74% of the company’s shares.