American Axle & Manufact. Holdings (AXL) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 21, 2016.
On the company’s financial health, American Axle & Manufact. Holdings reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 6, 2016. Analyst had a consensus of $0.70. The company had revenue of $969.20 million for the quarter, compared to analysts expectations of $1000.53 million. During the same quarter in the previous year, the company posted $0.68 EPS.
American Axle & Manufact. Holdings opened for trading at $16.34 and hit $16.74 on the upside on Monday, eventually ending the session at $16.44, with a gain of 2.30% or 0.37 points. The heightened volatility saw the trading volume jump to 9,50,026 shares. Company has a market cap of $1,258 M.
In a different news, on May 24, 2016, Michael Joseph Lynch (VP Drvlne Bus Perf & Cost Mgmt) sold 5,531 shares at $15.00 per share price. According to the SEC, on May 18, 2016, David A Culton (VP Cost Engineering-Full Frame) sold 6,776 shares at $15.55 per share price. On Mar 15, 2016, Alberto L Satine (President Driveline) sold 16,000 shares at $14.85 per share price, according to the Form-4 filing with the securities and exchange commission.
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.