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

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 9,560,000 shares, a growth of 22.9% from the January 31st total of 7,780,000 shares. Based on an average daily volume of 2,000,000 shares, the short-interest ratio is presently 4.8 days. Approximately 8.7% of the company’s stock are short sold.

American Axle & Manufacturing Price Performance

AXL stock traded down $0.19 during mid-day trading on Friday, reaching $4.61. 846,342 shares of the company traded hands, compared to its average volume of 1,711,950. The company has a fifty day moving average price of $5.44 and a 200-day moving average price of $5.96. American Axle & Manufacturing has a 52-week low of $4.45 and a 52-week high of $7.98. The company has a market capitalization of $541.46 million, a P/E ratio of 16.45 and a beta of 1.94. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) earnings per share. As a group, analysts anticipate that American Axle & Manufacturing will post 0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AXL shares. StockNews.com downgraded American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a report on Tuesday, February 18th. TD Cowen initiated coverage on shares of American Axle & Manufacturing in a research report on Friday. They issued a “hold” rating and a $5.00 price objective on the stock. Morgan Stanley dropped their price target on American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, UBS Group decreased their price objective on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.69.

Hedge Funds Weigh In On American Axle & Manufacturing

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP boosted its stake in American Axle & Manufacturing by 201.2% in the fourth quarter. Marshall Wace LLP now owns 1,246,559 shares of the auto parts company’s stock worth $7,267,000 after buying an additional 832,726 shares in the last quarter. Lonestar Capital Management LLC purchased a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at $3,893,000. JPMorgan Chase & Co. grew its holdings in shares of American Axle & Manufacturing by 546.6% during the 4th quarter. JPMorgan Chase & Co. now owns 786,569 shares of the auto parts company’s stock valued at $4,586,000 after purchasing an additional 664,922 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in American Axle & Manufacturing by 31.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,273,917 shares of the auto parts company’s stock worth $14,053,000 after purchasing an additional 548,860 shares during the period. Finally, Whitebox Advisors LLC lifted its stake in American Axle & Manufacturing by 33.7% in the fourth quarter. Whitebox Advisors LLC now owns 1,892,723 shares of the auto parts company’s stock worth $11,035,000 after purchasing an additional 477,550 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.