American Axle & Manufacturing Holdings (AXL) has risen sharply, recording gains of 4.31% in the past 4 weeks. However, the stock has corrected -1.17% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.91% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
American Axle & Manufacturing Holdings Inc. is up 16.24% in the last 3-month period. Year-to-Date the stock performance stands at -6.65%. The stock has recorded a 20-day Moving Average of 1.19% and the 50-Day Moving Average is 8.41%.
American Axle & Manufacturing Holdings (NYSE:AXL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.40 and $17.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.78. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.68, notching a gain of 0.91% for the day. The total traded volume was 768,369 . The stock had closed at $17.52 on the previous day.
Also, Barclays maintains its rating on American Axle & Manufacturing Holdings (NYSE:AXL). The global brokerage major raises the current price target from $17 per share to $18 per share. Analysts at the Barclays have a current rating of Equal-weight on the shares. The rating by the firm was issued on August 2, 2016.
American Axle & Manufacturing Holdings, Inc. is an automotive supplier. The Company manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules. The Company provides these components for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles. Driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels. Its driveline, drivetrain and related products include axles, driveheads, chassis modules, driveshafts, power transfer units, transfer cases, chassis and steering components, transmission parts, electric drive systems and metal-formed products. The Companys technologies include PowerLite axles, PowerDense gears and PowerFilm lubricant for passenger car, light truck and AWD applications. It operates in 13 countries and has 37 manufacturing, engineering and business office facilities across the world.