American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Short Interest Up 9.6% in October

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 4,440,000 shares, a growth of 9.6% from the October 15th total of 4,050,000 shares. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is currently 2.8 days. Approximately 4.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AXL. Bank of America raised their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. Finally, Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.38.

Institutional Trading of American Axle & Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in American Axle & Manufacturing during the second quarter worth about $41,000. KBC Group NV increased its holdings in shares of American Axle & Manufacturing by 81.3% in the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after acquiring an additional 3,211 shares in the last quarter. Quarry LP boosted its stake in American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 4,851 shares during the period. XTX Topco Ltd acquired a new stake in shares of American Axle & Manufacturing in the third quarter valued at approximately $62,000. Finally, Zacks Investment Management acquired a new position in American Axle & Manufacturing during the third quarter valued at approximately $70,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

American Axle & Manufacturing Stock Down 1.9 %

NYSE AXL traded down $0.12 during trading on Monday, hitting $6.19. 1,116,648 shares of the company traded hands, compared to its average volume of 1,588,791. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28. The company has a market capitalization of $727.82 million, a P/E ratio of 26.29 and a beta of 1.95. The business has a fifty day simple moving average of $6.11 and a 200 day simple moving average of $6.70. American Axle & Manufacturing has a 12 month low of $5.43 and a 12 month high of $8.99.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts predict that American Axle & Manufacturing will post 0.43 EPS for the current year.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.