Stock traders buy high volume of US Axle and Manufacturing call options (NYSE:AXL)

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Rating) was the beneficiary of unusually large options trades on Tuesday. Equity investors bought 7,526 call options on the stock. This is a 404% increase from the typical volume of 1,493 call options.

Analyst upgrades and downgrades

A number of research companies have weighed in on AXL. Morgan Stanley raised its price target on American Axle & Manufacturing from $11.00 to $12.00 and gave the company an “overweight” rating in a Thursday, August 11 report. Deutsche Bank Aktiengesellschaft raised its price target on American Axle & Manufacturing shares from $8.00 to $9.00 in a Monday, August 8 research report. Citigroup lowered its price target on American Axle & Manufacturing shares from $9.50 to $8.50 and set a “neutral” rating on the stock in a Wednesday, Sept. 28 research note. TheStreet upgraded shares of American Axle & Manufacturing from a “d+” rating to a “c-” rating in a Friday, August 5 research note. Finally, Bank of America upgraded American Axle & Manufacturing from a “buy” rating to a “neutral” rating and lowered its price target for the company from $16.00 to $13.00 in a Friday report. September 9. One analyst rated the stock with a sell rating, six gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.08.

Institutional entries and exits

A number of hedge funds have been buying and selling shares of AXL recently. Keebeck Alpha LP bought a new stake in American Axle & Manufacturing in the first quarter worth about $100,000. Sequoia Financial Advisors LLC acquired a new position in American Axle & Manufacturing stock in the fourth quarter worth $24,309,000. MidWestOne Financial Group Inc. increased its stake in American Axle & Manufacturing shares by 8.5% during the 4th quarter. MidWestOne Financial Group Inc. now owns 123,593 shares of the auto parts company worth $1,153,000 after buying 9,647 additional shares in the last quarter. Citigroup Inc. increased its holdings of American Axle & Manufacturing shares by 18.8% during the fourth quarter. Citigroup Inc. now owns 129,959 shares of the auto parts company worth $1,213,000 after purchasing an additional 20,523 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in American Axle & Manufacturing shares by 4.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 92,963 shares of the auto parts company worth $721,000 after purchasing an additional 4,088 shares during the period. 95.20% of the shares are currently held by institutional investors.

US axles and manufacturing inventory up 9.0%

Shares of AXL rose $0.64 during Tuesday’s trading, hitting $7.72. The company’s stock had a trading volume of 148,965 shares, compared to its average volume of 1,700,450. American Axle & Manufacturing has a one-year low of $6.36 and a one-year high of $11.96. The company has a fifty-day moving average price of $9.38 and a 200-day moving average price of $8.25. The company has a market cap of $884.33 million, a price-to-earnings ratio of -33.52, a growth price-to-earnings ratio of 0.90, and a beta of 2.12. The company has a quick ratio of 1.31, a current ratio of 1.69 and a debt ratio of 6.47.

American Axle & Manufacturing (NYSE:AXL – Get Rating) last released its quarterly results on Friday, August 5. The auto parts company reported EPS of $0.22 for the quarter, beating the consensus estimate of $0.10 by $0.12. The company posted revenue of $1.44 billion for the quarter, versus $1.37 billion for analysts. American Axle & Manufacturing posted a negative net margin of 0.47% and a positive return on equity of 12.32%. The company’s revenue for the quarter increased 12.1% year over year. During the same period of the previous year, the company posted EPS of $0.29. Analysts expect American Axle & Manufacturing to post earnings per share of 0.94 for the current year.

About American Axle and Manufacturing

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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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