American Axle & Manufacturing Holdings (AXL) : Traders are bullish on American Axle & Manufacturing Holdings (AXL) as it has outperformed the S&P 500 by a wide margin of 12.37% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.78%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.71% in the last 1 week, and is up 16.14% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 9.42% and the 50-Day Moving Average is 9.75%. American Axle & Manufacturing Holdings Inc. is up 12.25% in the last 3-month period. Year-to-Date the stock performance stands at -8.08%.
American Axle & Manufacturing Holdings (NYSE:AXL): stock turned positive on Friday. Though the stock opened at $17.83, the bulls momentum made the stock top out at $17.9 level for the day. The stock recorded a low of $16.82 and closed the trading day at $17.41, in the green by 4.69%. The total traded volume for the day was 2,418,560. The stock had closed at $16.63 in the previous days trading.
Also, Equity Analysts at the RBC Capital upgrades the rating on American Axle & Manufacturing Holdings (NYSE:AXL). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Sector Perform. The rating by the firm was issued on June 29, 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.