After Barclays and Morgan Stanley gave American Axle (NYSE: AXL) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Joseph Spak maintained a Buy rating on American Axle today and set a price target of $19. The company’s shares closed on Friday at $16.83.
According to TipRanks.com, Spak is a 4-star analyst with an average return of 7.2% and a 56.4% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Tenneco Automotive, Meritor Inc, and Veoneer Inc.
American Axle has an analyst consensus of Strong Buy, with a price target consensus of $19.33, which is a 14.9% upside from current levels. In a report issued on February 17, Barclays also maintained a Buy rating on the stock with a $20 price target.
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American Axle’s market cap is currently $1.88B and has a P/E ratio of 4.73. The company has a Price to Book ratio of 1.02.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AXL in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
American Axle & Manufacturing Holdings, Inc. engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the following segments: Driveline, Metal Forming, Powertrain, Casting, and Corporate.
