American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Sees Significant Decline in Short Interest

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the recipient of a significant 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. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 1.9 days.

American Axle & Manufacturing Price Performance

Shares of AXL stock traded up $0.06 on Friday, reaching $7.11. The stock had a trading volume of 939,475 shares, compared to its average volume of 1,162,132. American Axle & Manufacturing has a 12 month low of $6.29 and a 12 month high of $10.77. The firm’s 50-day moving average is $7.11 and its two-hundred day moving average is $7.60. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 4.62.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group dropped 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. Citigroup dropped their price objective on shares of American Axle & Manufacturing from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. StockNews.com cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, October 1st. TheStreet downgraded shares of American Axle & Manufacturing from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. Finally, Royal Bank of Canada dropped their price objective on American Axle & Manufacturing from $8.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, November 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.10.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXL. UBS Asset Management Americas Inc. grew its position in shares of American Axle & Manufacturing by 0.9% in the third quarter. UBS Asset Management Americas Inc. now owns 128,704 shares of the auto parts company’s stock valued at $879,000 after purchasing an additional 1,196 shares during the last quarter. Envestnet Asset Management Inc. increased its position in American Axle & Manufacturing by 8.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 19,125 shares of the auto parts company’s stock worth $131,000 after buying an additional 1,469 shares during the period. ProShare Advisors LLC increased its position in American Axle & Manufacturing by 9.0% during the second quarter. ProShare Advisors LLC now owns 17,912 shares of the auto parts company’s stock worth $148,000 after acquiring an additional 1,482 shares during the period. Cerity Partners LLC bought a new stake in shares of American Axle & Manufacturing during the 1st quarter valued at $473,000. Finally, Captrust Financial Advisors increased its stake in American Axle & Manufacturing by 11.7% in the second quarter. Captrust Financial Advisors now owns 14,395 shares of the auto parts company’s stock valued at $108,000 after acquiring an additional 1,505 shares during the last quarter. 91.41% of the stock is owned by institutional investors.

About American Axle & Manufacturing

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.