American Axle & Manufact. Holdings, Inc. (NYSE:AXL) Short Interest Update

American Axle & Manufact. Holdings, Inc. (NYSE:AXL) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 7,520,000 shares, a growth of 26.6% from the September 15th total of 5,940,000 shares. Approximately 6.9% of the shares of the stock are sold short. Based on an average daily volume of 1,860,000 shares, the days-to-cover ratio is currently 4.0 days.

A number of institutional investors have recently made changes to their positions in AXL. Public Employees Retirement Association of Colorado boosted its stake in American Axle & Manufact. by 48.3% during the first quarter. Public Employees Retirement Association of Colorado now owns 18,560 shares of the auto parts company’s stock valued at $67,000 after buying an additional 6,047 shares during the last quarter. Point72 Hong Kong Ltd lifted its stake in shares of American Axle & Manufact. by 595.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 10,234 shares of the auto parts company’s stock valued at $78,000 after purchasing an additional 8,763 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of American Axle & Manufact. by 37.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,197 shares of the auto parts company’s stock valued at $93,000 after purchasing an additional 3,307 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of American Axle & Manufact. in the 2nd quarter valued at approximately $114,000. Finally, First Quadrant L P CA bought a new stake in shares of American Axle & Manufact. in the 2nd quarter valued at approximately $123,000. 92.51% of the stock is owned by institutional investors.

AXL has been the subject of several research analyst reports. ValuEngine upgraded American Axle & Manufact. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft increased their target price on American Axle & Manufact. from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Barclays increased their target price on American Axle & Manufact. from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Credit Suisse Group increased their target price on American Axle & Manufact. from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, Bank of America cut their target price on American Axle & Manufact. from $14.00 to $11.50 and set a “buy” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $8.50.

American Axle & Manufact. stock traded down $0.11 during midday trading on Friday, reaching $6.77. 1,209,385 shares of the stock traded hands, compared to its average volume of 2,174,014. The stock’s fifty day moving average is $6.79 and its 200-day moving average is $6.42. American Axle & Manufact. has a 12 month low of $2.50 and a 12 month high of $11.26. The stock has a market cap of $766.86 million, a P/E ratio of -0.59 and a beta of 2.83. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 17.91.

American Axle & Manufact. (NYSE:AXL) last announced its quarterly earnings results on Friday, July 31st. The auto parts company reported ($1.79) EPS for the quarter, beating analysts’ consensus estimates of ($2.13) by $0.34. American Axle & Manufact. had a negative return on equity of 13.47% and a negative net margin of 26.04%. The company had revenue of $515.30 million during the quarter, compared to analyst estimates of $414.62 million. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was down 69.8% on a year-over-year basis. On average, equities analysts predict that American Axle & Manufact. will post -1.49 EPS for the current fiscal year.

American Axle & Manufact. Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

Further Reading: Technical Analysis

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