In a report issued on October 30, Joseph Spak from RBC Capital maintained a Hold rating on American Axle (AXL), with a price target of $8.00. The company’s shares closed last Tuesday at $7.21.
According to TipRanks.com, Spak has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -10.2% and a 52.6% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Tenneco Automotive, Dana Holding, and BorgWarner.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Axle with a $9.63 average price target, representing a 35.6% upside. In a report issued on November 2, Barclays also maintained a Hold rating on the stock with a $8.00 price target.
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The company has a one-year high of $11.26 and a one-year low of $2.50. Currently, American Axle has an average volume of 1.92M.
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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, and Casting. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles. The Metal Forming segment manufactures axle shafts, ring and pinion gears, differential gears, transmission gears, and shafts and suspension components for original equipment manufacturers (OEMs), and Tier 1 automotive suppliers. The Casting segment produces thin wall castings and ductile iron castings, as well as differential cases, steering knuckles, control arms, and turbo charger housings for the light, commercial, and industrial markets. The company was founded by Richard E. Dauch on March 1, 1994 and is headquartered in Detroit, MI.
