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

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 36,761,174 shares, a growth of 34.4% from the January 15th total of 27,345,841 shares. Based on an average daily trading volume, of 5,357,549 shares, the days-to-cover ratio is presently 6.9 days. Currently, 31.6% of the shares of the stock are short sold. Currently, 31.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,357,549 shares, the days-to-cover ratio is presently 6.9 days.

Institutional Trading of American Axle & Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXL. Royal Bank of Canada lifted its stake in American Axle & Manufacturing by 98.9% during the first quarter. Royal Bank of Canada now owns 60,425 shares of the auto parts company’s stock worth $246,000 after purchasing an additional 30,046 shares during the period. AQR Capital Management LLC lifted its position in shares of American Axle & Manufacturing by 2.8% during the 1st quarter. AQR Capital Management LLC now owns 452,658 shares of the auto parts company’s stock worth $1,842,000 after buying an additional 12,477 shares during the period. Millennium Management LLC boosted its stake in American Axle & Manufacturing by 77.9% in the 1st quarter. Millennium Management LLC now owns 1,550,521 shares of the auto parts company’s stock valued at $6,311,000 after buying an additional 679,042 shares in the last quarter. Goldman Sachs Group Inc. grew its position in American Axle & Manufacturing by 24.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,490,388 shares of the auto parts company’s stock valued at $6,066,000 after acquiring an additional 291,908 shares during the period. Finally, Empowered Funds LLC raised its stake in American Axle & Manufacturing by 3.0% during the first quarter. Empowered Funds LLC now owns 567,790 shares of the auto parts company’s stock worth $2,311,000 after acquiring an additional 16,674 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AXL shares. Morgan Stanley set a $7.00 price target on shares of American Axle & Manufacturing in a research report on Monday, December 8th. UBS Group raised their price objective on American Axle & Manufacturing from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Wall Street Zen raised American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Stifel Nicolaus upped their target price on American Axle & Manufacturing from $7.00 to $8.00 and gave the company a “hold” rating in a report on Friday, January 23rd. Finally, BWS Financial started coverage on American Axle & Manufacturing in a research report on Tuesday, January 27th. They issued a “buy” rating and a $17.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.92.

American Axle & Manufacturing Stock Performance

American Axle & Manufacturing has a fifty-two week low of $3.00 and a fifty-two week high of $9.00. The company has a current ratio of 1.77, a quick ratio of 1.43 and a debt-to-equity ratio of 3.61. The company’s 50 day moving average is $7.46 and its two-hundred day moving average is $6.47. The firm has a market cap of $1.09 billion, a PE ratio of 27.80 and a beta of 1.60.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc (NYSE: AXL) is a global designer, engineer and manufacturer of driveline and drivetrain systems and components for light vehicles, commercial trucks and off-highway applications. The company’s core product portfolio includes axles, driveshafts, half-shafts, drive module assemblies and differential gears, as well as advanced metallic and composite structures for electric and hybrid vehicles. AAM’s capabilities also encompass system testing, rapid prototyping and precision machining to support both high-volume production and low-volume, specialty vehicle applications.

Founded in 1994 following the divestiture of the Detroit Axle Division of General Motors, American Axle & Manufacturing completed its initial public offering in 1998.