In a report released yesterday, Christopher Van Horn from B.Riley FBR maintained a Sell rating on American Axle (AXL). The company’s shares closed yesterday at $13.24.
Van Horn wrote:
“Despite American Axle & Manufacturing (AXL) leverage to North American pickup trucks and SUVs, the company still faces certain challenges from a volume and operating perspective. We think the company is well managed but certain supplier headwinds, volume changes, product launch cadence (from their customers), and macro headwinds could affect results going forward. For that reason and given there are other secular growth suppliers in the space, we are maintaining our Sell rating on the shares. The company missed our revenue estimate ($1.72B vs. 1.74B) while adjusted EBITDA came in better than we expected at $245M vs. $240M. We estimate that volume challenges, product change overs, and lower pricing were the primary differences.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 2.8% and a 51.9% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Methode Electronics, and Hickok Incorporated.
American Axle has an analyst consensus of Moderate Buy, with a price target consensus of $20.
See today’s analyst top recommended stocks >>
Based on American Axle’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $40.4 million. In comparison, last year the company had a net profit of $87.2 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.
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.
