American Axle Needs To Grow Outside Of U.S. And GM
Alpha Gen Capital
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Alpha Gen Capital
Is American Axle Trading At A Discount To Its Intrinsic Value?
Tue, Jun. 21, 1:53 PM
- BorgWarner (BWA -4.1%) tumbles after BofA Merrill Lynch downgrades shares to Neutral from Buy, saying the company looks set to suffer from muted revenue and profit growth going forward.
- The downgrade is just one of several among auto parts suppliers amid lower than expected U.S. auto sales this year, as BofA cuts its 2016 U.S. auto sales estimate to 17.7M from an earlier view of 18.2M.
- In addition to BWA, the firm also downgrades American Axle (AXL -6%), Lear (LEA -3.5%) and Metaldyne (MPG -5.9%) to Neutral from Buy, and Cooper-Standard (CPS -3.6%) to Underperform from Neutral.
- BofA adds that investor sentiment towards the auto supplier sector has become more negative, meaning that all the downgraded stocks likely will trade at relatively low multiples.
Tue, Jun. 21, 12:00 PM
Wed, Jun. 1, 10:14 AM
- Auto parts stocks are under pressure after the Detroit Three all showed a slowing U.S. sales trend in May.
- The month included two fewer selling days which impacted the unadjusted tally, although demand for passenger cars in particular still came in weak.
- Notable decliners include BorgWarner (BWA -3.3%), Tower International (TOWR -4%), American Axle & Manufacturing (AXL -2.4%), Lear (LEA -2.5%), Delphi Automotive (DLPH -2.4%), and Dana Holding (DAN -1.8%).
Wed, May 25, 12:03 PM
Tue, May 24, 5:35 PM
- Arthur J. Gallagher (AJG +1.2%) is heading to the S&P 500, to replace Coca-Cola Enterprises (NYSE:CCE).
- That move is effective after Friday's close, when the bottling operation is expected to close on a merger with Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränke, into Coca-Cola European Partners -- which will be ineligible for the index as it will be domiciled in Spain.
- At the same time, SmallCap 600 constituent Education Realty Trust (NYSE:EDR) will take Gallagher's place in the Midcap 400, and American Axle & Manufacturing Holdings (NYSE:AXL) will replace EDR in the SmallCap 600.
- After hours: AJG +0.5%; CCE -0.6%; EDR +1.2%; AXL +4.6%.
Fri, May 6, 8:01 AM
Thu, May 5, 5:30 PM
Fri, Apr. 1, 11:14 AM
- Auto parts stock are lower after March U.S. auto sales from the Detroit Three fall short of the estimates of research firms.
- Leading decliners include Metaldyne (MPG -6.7%), Dana Holding (DAN -4.9%), American Axle & Manufacturing (AXL -3.4%), Tenneco (TEN -3.6%), Lear Corp. (LEA -3.1%), Meritor (MTOR -2.4%), and Gentherm (THRM -2.1%).
- Now read The U.S. Auto Market: How Many Brands, How Many Models?
Fri, Feb. 12, 8:08 AM
Thu, Feb. 11, 5:30 PM
Wed, Jan. 13, 12:44 PM
- Auto parts stocks are sliding with a number of companies issuing guidance below expectations. Some of the soft reads are being delivered at the Deutsche Bank 2015 Global Auto Industry Conference in progress.
- Anxiety has increased over the last week that the U.S. auto market may be at a volume peak.
- Decliners include American Axle & Manufacturing (AXL -15%), Tower International (TOWR -7%), Tenneco (TEN -6.8%), Modine Manufacturing (MOD -4.9%), Lear Corp. (LEA -3.7%), and Visteon (VC -3.8%).
Tue, Jan. 5, 11:31 AM
- Many auto parts stocks are trailing off after key manufacturers (Ford, GM, Toyota, Fit Chrysler) miss forecasts with their December U.S. sales reports. The sector bounced last month when the rosy predictions first started piling in.
- Weakness in China this week may be impacting sentiment on certain auto parts names as well.
- Decliners include Modine Manufacturing (MOD -4.9%), Federal-Mogul (FDML -5.1%), Stoneridge (SRI -3.8%), American Axle & Manufacturing (AXL -3.1%), Delphi Automotive (DLPH -2.3%), Autoliv (ALV -2.3%), Meritor (MTOR -3.4%), Gentherm (THRM -2.3%), BorgWarner (BWA -1.8%), and Lear (LEA -2%).
Oct. 31, 2015, 12:51 PM
- The European Automobile Manufacturers Association issued a statement this week in which it forecasts that a "substantial number" of diesel models will have to be phased out earlier than anticipated.
- The harsh assessment was mirrored by several heavyweight CEOs at the Tokyo Motor Show. The major focus of the event has been next-gen concepts like hydrogen-powered cars and self-driving features, while execs such as Nissan's Carlos Ghosn have marginalized the future of diesel.
- Many automobile industry insiders have noted that diesel was in decline due to the focus on emissions even before Volkswagen (OTCQX:VLKAY) rocked the industry with a cheating scandal.
- The mix of technology, EV, hydrogen, and powertrain changes have kept analysts buzzing over the proper valuations to assign to major players. A reset of demand expectations in China also factors in significantly.
- Automobile industry stocks: DAN, BWA, MTOR, TRW, FDML, DLPH,GNTX, SMP, AXL, MPAA, ALV, MOD, DLPH, VC, THRM, WPRT, GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, THRM, BWA, JCI, TEN, CPS, LDL, TOWR, OTCPK:PEUGF, OTC:RNSDF, OTCPK:RNLSY.
- Previously: Hydrogen and self-driving cars the talk at the Toyota Motor Show (Oct. 29)
Oct. 30, 2015, 8:03 AM
- American Axle & Manufacturing (NYSE:AXL): Q3 EPS of $0.78 beats by $0.11.
- Revenue of $971.6M (+2.2% Y/Y) misses by $16.27M.
Oct. 29, 2015, 5:30 PM| Oct. 29, 2015, 5:30 PM | 19 Comments
Sep. 22, 2015, 10:16 AM
- The automobile parts sector is down again to follow a rout of European automaker stocks earlier in the day led by the dismantling of shares of scandal-ridden Volkswagen.
- Losing business from Volkswagen is one concern, but a broader issue could be tighter emissions testing and compliance protocols in the industry.
- Decliners include Tenneco (TEN -7.5%), Delphi Automotive (DLPH -4.3%), Allison Transmission Holdings (ALSN -4%), Federal-Mogul Holdings (FDML -4.4%), Lear (LEA -3.3%), Meritor (MTOR -3.8%), Dana Holding (DAN -3.7%), Autoliv (ALV -3.4%), Modine Manufacturing (MOD -2.8%), Standard Motor Products (SMP -2.3%), Stoneridge (SRI -3.6%), American Axle & Manufacturing (AXL -2.5%), and Johnson Controls (JCI -2.3%).
- Previously: Volkswagen -35% in two-day drubbing after cheating scandal (Sep. 22 2015)
American Axle & Manufacturing Holdings, Inc. operates as a supplier to the automotive industry. It operates through its subsidiaries, which are engaged in the manufacturing, engineering, designing and validation of driveline and drivetrain systems and related components and chassis modules for... More
Sector: Consumer Goods
Industry: Auto Parts
Country: United States
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