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

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

Analysts Set New Price Targets

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

American Axle & Manufacturing Stock Up 0.5 %

American Axle & Manufacturing stock opened at $6.31 on Friday. The firm has a market capitalization of $741.94 million, a price-to-earnings ratio of 26.29 and a beta of 1.95. The firm has a 50 day simple moving average of $6.11 and a 200 day simple moving average of $6.71. American Axle & Manufacturing has a 1-year low of $5.43 and a 1-year high of $8.99. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.25. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) earnings per share. On average, analysts predict that American Axle & Manufacturing will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of institutional investors and hedge funds have recently modified their holdings of AXL. nVerses Capital LLC bought a new stake in American Axle & Manufacturing during the 2nd quarter worth approximately $41,000. KBC Group NV grew its position in shares of American Axle & Manufacturing by 81.3% during the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after purchasing an additional 3,211 shares in the last quarter. Quarry LP increased its holdings in shares of American Axle & Manufacturing by 159.2% in the second 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 purchased a new stake in shares of American Axle & Manufacturing in the third quarter worth $62,000. Finally, Zacks Investment Management bought a new stake in American Axle & Manufacturing during the third quarter valued at $70,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

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.