B.Riley FBR analyst Christopher Van Horn reiterated a Sell rating on American Axle (NYSE: AXL) yesterday and set a price target of $12. The company’s shares opened today at $15.
Van Horn noted:
“American Axle (AXL) shares closed up 4.5% vs. the the company reported 1Q18 results that were somewhat ahead of our and consensus estimates. The company reiterated its FY18 guidance, indicating that it continues to expect revenue of ~$7B and adjusted EBITDA margin of 17.5%-18.0%; we are increasing our full year estimates based on the 1Q18 beat as well as higher metal market and currency expectations. While the company’s synergy remains on track and the annual synergy run-rate continues to increase, we believe that this is probably already accounted for in the stock.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 6.4% and a 51.4% success rate. Horn covers the Industrial Goods sector, focusing on stocks such as Superior Industries International, Tower International, and Park-Ohio Holdings.
American Axle has an analyst consensus of Moderate Buy, with a price target consensus of $18.40.
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American Axle’s market cap is currently $1.66B and has a P/E ratio of 4.92. The company has a Price to Book ratio of 1.00.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.
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American Axle & Manufacturing Holdings, Inc. operates as a supplier to the automotive industry. Though its subsidiaries, it manufactures, engineers, designs, and validates driveline and drivetrain systems and related components. It also offers chassis modules for light trucks, sport utility vehicles, passenger cars, crossover, and commercial vehicles.
