American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) announced its quarterly earnings data on Friday. The auto parts company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10, Bloomberg Earnings reports. American Axle & Manufacturing Holdings had a net margin of 6.40% and a return on equity of 51.56%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the business posted $0.90 earnings per share. American Axle & Manufacturing Holdings’s revenue was up 71.4% compared to the same quarter last year.

Shares of American Axle & Manufacturing Holdings (AXL) traded down 3.56% during midday trading on Friday, reaching $15.43. 3,401,510 shares of the company’s stock traded hands. American Axle & Manufacturing Holdings has a 52-week low of $12.61 and a 52-week high of $21.25. The stock has a 50-day moving average price of $15.66 and a 200-day moving average price of $17.77. The stock has a market cap of $1.18 billion, a P/E ratio of 5.38 and a beta of 1.35.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.watchlistnews.com/american-axle-manufacturing-holdings-inc-axl-announces-quarterly-earnings-results-beats-estimates-by-0-10-eps/1462908.html.

Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of American Axle & Manufacturing Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. CLSA assumed coverage on shares of American Axle & Manufacturing Holdings in a report on Thursday, June 22nd. They issued a “buy” rating and a $18.00 price objective on the stock. J P Morgan Chase & Co restated an “overweight” rating on shares of American Axle & Manufacturing Holdings in a report on Monday, May 15th. Off Wall Street assumed coverage on shares of American Axle & Manufacturing Holdings in a report on Thursday, July 13th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research lowered shares of American Axle & Manufacturing Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $19.90.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Preferred LLC purchased a new position in shares of American Axle & Manufacturing Holdings during the first quarter worth about $104,000. Public Employees Retirement System of Ohio increased its position in shares of American Axle & Manufacturing Holdings by 6.2% in the first quarter. Public Employees Retirement System of Ohio now owns 6,538 shares of the auto parts company’s stock worth $123,000 after buying an additional 380 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of American Axle & Manufacturing Holdings during the first quarter worth about $124,000. State of Alaska Department of Revenue increased its position in shares of American Axle & Manufacturing Holdings by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 8,440 shares of the auto parts company’s stock worth $158,000 after buying an additional 170 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in shares of American Axle & Manufacturing Holdings during the second quarter worth about $162,000.

About American Axle & Manufacturing Holdings

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

Earnings History for American Axle & Manufacturing Holdings (NYSE:AXL)

Receive News & Ratings for American Axle & Manufacturing Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Axle & Manufacturing Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.