American Axle (AXL) Receives a Hold from RBC Capital

In a report issued on January 14, Joseph Spak from RBC Capital maintained a Hold rating on American Axle (AXLResearch Report), with a price target of $10.00. The company’s shares closed last Friday at $9.94.

According to TipRanks.com, Spak ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -7.0% and a 57.5% 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 Hold analyst consensus rating for American Axle with a $10.50 average price target, implying a 5.7% upside from current levels. In a report issued on January 13, Deutsche Bank also maintained a Hold rating on the stock with a $11.00 price target.

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Based on American Axle’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.21 billion and GAAP net loss of $2.4 million. In comparison, last year the company earned revenue of $1.41 billion and had a net profit of $117 million.

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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.

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