American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Short Interest Down 6.0% in October

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 2,500,000 shares, a decline of 6.0% from the October 15th total of 2,660,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.3% of the shares of the stock are sold short.

American Axle & Manufacturing Price Performance

Shares of NYSE AXL traded up $0.06 during midday trading on Friday, reaching $7.11. 939,475 shares of the stock traded hands, compared to its average volume of 1,162,133. The stock has a market capitalization of $832.30 million, a PE ratio of -710.79 and a beta of 2.31. American Axle & Manufacturing has a one year low of $6.29 and a one year high of $10.77. The company’s 50 day moving average is $7.10 and its 200 day moving average is $7.60. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.71 and a quick ratio of 1.34.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, November 3rd. The auto parts company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. American Axle & Manufacturing had a negative net margin of 0.01% and a negative return on equity of 1.46%. American Axle & Manufacturing’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. On average, equities research analysts anticipate that American Axle & Manufacturing will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of American Axle & Manufacturing by 136.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,246 shares of the auto parts company’s stock worth $33,000 after purchasing an additional 2,452 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in American Axle & Manufacturing by 703.4% during the first quarter. Point72 Hong Kong Ltd now owns 8,886 shares of the auto parts company’s stock worth $69,000 after buying an additional 7,780 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in American Axle & Manufacturing in the 3rd quarter valued at $72,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of American Axle & Manufacturing in the 3rd quarter worth $76,000. Finally, QRG Capital Management Inc. purchased a new position in shares of American Axle & Manufacturing during the 3rd quarter worth $84,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AXL. Morgan Stanley decreased their price target on American Axle & Manufacturing from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, September 28th. Citigroup lowered their price target on American Axle & Manufacturing from $9.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, October 11th. UBS Group cut their price objective on shares of American Axle & Manufacturing from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, October 10th. TheStreet downgraded shares of American Axle & Manufacturing from a “c” rating to a “d+” rating in a report on Friday, November 3rd. Finally, Royal Bank of Canada cut their target price on shares of American Axle & Manufacturing from $8.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, November 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.10.

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 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.