American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Rating) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 4,890,000 shares, a growth of 7.7% from the August 15th total of 4,540,000 shares. Based on an average trading volume of 1,430,000 shares, the short-interest ratio is presently 3.4 days. Approximately 4.5% of the shares of the stock are short sold.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Wolfe Research lowered shares of American Axle & Manufacturing from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 18th. Bank of America lowered shares of American Axle & Manufacturing from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $13.00 in a research report on Friday, September 9th. TheStreet upgraded shares of American Axle & Manufacturing from a “d+” rating to a “c-” rating in a research report on Friday, August 5th. Citigroup upped their price target on shares of American Axle & Manufacturing to $9.50 in a research report on Monday, August 15th. Finally, Morgan Stanley upped their price target on shares of American Axle & Manufacturing from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Axle & Manufacturing presently has a consensus rating of “Hold” and an average price target of $9.25.
Hedge Funds Weigh In On American Axle & Manufacturing
A number of institutional investors have recently bought and sold shares of AXL. FMR LLC raised its stake in American Axle & Manufacturing by 60,578.4% in the second quarter. FMR LLC now owns 4,169,820 shares of the auto parts company’s stock worth $31,398,000 after buying an additional 4,162,948 shares in the last quarter. Mirabella Financial Services LLP bought a new position in shares of American Axle & Manufacturing during the fourth quarter valued at approximately $3,365,000. Sequoia Financial Advisors LLC bought a new position in shares of American Axle & Manufacturing during the fourth quarter valued at approximately $24,309,000. Goldman Sachs Group Inc. increased its stake in shares of American Axle & Manufacturing by 804.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,835,148 shares of the auto parts company’s stock valued at $13,819,000 after purchasing an additional 1,632,158 shares in the last quarter. Finally, Kettle Hill Capital Management LLC bought a new position in shares of American Axle & Manufacturing during the fourth quarter valued at approximately $7,236,000. 95.20% of the stock is owned by institutional investors.
American Axle & Manufacturing Stock Performance
American Axle & Manufacturing (NYSE:AXL – Get Rating) last posted its earnings results on Friday, August 5th. The auto parts company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.37 billion. American Axle & Manufacturing had a negative net margin of 0.47% and a positive return on equity of 12.32%. American Axle & Manufacturing’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. Sell-side analysts expect that American Axle & Manufacturing will post 0.94 EPS for the current year.
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 in the United States, Mexico, South America, China, other Asian countries, and Europe.
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