American Axle & Manufact. Holdings, Inc. (NYSE:AXL) – Analysts at B. Riley dropped their FY2018 earnings per share (EPS) estimates for American Axle & Manufact. in a research note issued to investors on Monday, November 5th. B. Riley analyst C. Horn now expects that the auto parts company will earn $3.27 per share for the year, down from their prior forecast of $3.89. B. Riley has a “Sell” rating and a $10.00 price objective on the stock. B. Riley also issued estimates for American Axle & Manufact.’s Q4 2018 earnings at $0.43 EPS, Q1 2019 earnings at $0.73 EPS, Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.94 EPS and FY2019 earnings at $3.31 EPS.
Several other equities analysts have also recently issued reports on the company. Wolfe Research initiated coverage on American Axle & Manufact. in a research note on Tuesday, October 2nd. They set an “outperform” rating on the stock. ValuEngine cut American Axle & Manufact. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. TheStreet raised American Axle & Manufact. from a “c+” rating to a “b-” rating in a research note on Wednesday, August 8th. Zacks Investment Research cut American Axle & Manufact. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Bank of America raised American Axle & Manufact. from an “underperform” rating to a “neutral” rating and set a $13.00 target price on the stock in a research note on Monday. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.10.
American Axle & Manufact. (NYSE:AXL) last announced its quarterly earnings results on Friday, November 2nd. The auto parts company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.27). American Axle & Manufact. had a return on equity of 25.19% and a net margin of 5.62%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned $0.86 earnings per share. American Axle & Manufact.’s revenue for the quarter was up 5.4% on a year-over-year basis.
In other news, CFO Christopher John May purchased 5,000 shares of American Axle & Manufact. stock in a transaction that occurred on Wednesday, November 7th. The shares were bought at an average cost of $12.36 per share, with a total value of $61,800.00. Following the completion of the purchase, the chief financial officer now directly owns 72,885 shares in the company, valued at $900,858.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David C. Dauch purchased 88,100 shares of American Axle & Manufact. stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average cost of $11.47 per share, for a total transaction of $1,010,507.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 111,325 shares of company stock worth $1,300,838. 0.96% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of AXL. Hennessy Advisors Inc. purchased a new stake in American Axle & Manufact. in the third quarter worth $28,045,000. BlackRock Inc. grew its stake in American Axle & Manufact. by 10.1% in the second quarter. BlackRock Inc. now owns 14,468,400 shares of the auto parts company’s stock worth $225,129,000 after purchasing an additional 1,327,564 shares during the period. KBC Group NV purchased a new stake in American Axle & Manufact. in the second quarter worth $8,935,000. City Financial Investment Co Ltd bought a new stake in American Axle & Manufact. in the second quarter worth $8,628,000. Finally, Smith Graham & Co. Investment Advisors LP bought a new stake in American Axle & Manufact. in the third quarter worth $9,172,000. 98.64% of the stock is currently owned by institutional investors.
About American Axle & Manufact.
American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.
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