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NEW YORK (TheStreet) -- Shares of American Axle & Manufacturing (AXL) - Get American Axle & Manufacturing Holdings Inc. Report were gaining 4.4% to $22.24 on Friday after the auto parts company beat analysts' estimates for earnings in the third quarter.

American Axle reported earnings of 78 cents a share for the third quarter, beating analysts' estimates of 67 cents a share for the quarter. Revenue grew 2.2% year over year to $971.6 million for the quarter, missing analysts' estimates of $987.87 million.

"AAM's financial results in the third quarter of 2015 reflect strong operating cash flow generation and profitability driven by solid production volumes across many of our major product programs supporting the North American light vehicle segment and continued operational execution," Chairman and CEO David C. Dauch said in a statement.

The company said its content-per-vehicle, which is measured by the dollar value of its product sales supporting its customers' North American light truck and SUV programs, was $1,622 for the third quarter, compared to $1,637 in the year-ago quarter.

About 2.4 million shares of American Axle were traded by 3:36 p.m. Friday, above the company's average trading volume of about 1.3 million shares a day.

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TheStreet Recommends

TheStreet Ratings team rates AMERICAN AXLE & MFG HOLDINGS as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

We rate AMERICAN AXLE & MFG HOLDINGS (AXL) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, good cash flow from operations and increase in net income. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

You can view the full analysis from the report here: AXL

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