Iochpe-Maxion SA (OTCMKTS:IOCJY) Sees Significant Drop in Short Interest

Iochpe-Maxion SA (OTCMKTS:IOCJY) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 706 shares, a decline of 58.6% from the September 30th total of 1,706 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 1,089 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Separately, Bradesco Corretora lowered shares of Iochpe-Maxion to a “neutral” rating in a research note on Tuesday, September 15th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Iochpe-Maxion Stock Performance

Iochpe-Maxion stock opened at $0.60 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.73 and a quick ratio of 1.11. The firm has a market capitalization of $274.81 million, a P/E ratio of 14.90 and a beta of 0.79. Iochpe-Maxion has a 1-year low of $0.48 and a 1-year high of $0.73. The company’s 50-day moving average is $0.63 and its 200 day moving average is $0.58.

Iochpe-Maxion (OTCMKTS:IOCJY) last released its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Iochpe-Maxion had a return on equity of 2.05% and a net margin of 0.63%. The firm had revenue of $778.82 million for the quarter, compared to analysts’ expectations of $784.78 million. Research analysts forecast that Iochpe-Maxion will post 0.08 EPS for the current year.

About Iochpe-Maxion

Iochpe-Maxion SA is a Brazil-based manufacturer of automotive components. Through its Maxion Wheels and Maxion Structural Components businesses, the company supplies products primarily to vehicle manufacturers and commercial-vehicle producers.

Its product portfolio includes steel and aluminum wheels, wheel components, chassis and structural assemblies, and other metal products used in passenger cars, trucks, buses, agricultural machinery, and off-highway vehicles. The company also provides engineering, development, and manufacturing services supporting the integration of these components into vehicle platforms.

Founded in Brazil in 1918, Iochpe-Maxion has expanded into an international supplier with manufacturing and other operations serving customers across the Americas, Europe, Asia, and Africa.