Iochpe-Maxion SA (OTCMKTS:IOCJY) Stock Short Interest Report for October

Key Points

• Short interest fell 58.6% to 706 shares as of October 15, representing 0.0% of outstanding stock and just 0.6 days to cover.
• Bradesco Corretora downgraded Iochpe-Maxion to “neutral,” while the two-analyst consensus rating remains Hold.
• The company reported quarterly EPS of $0.04, beating estimates of $0.02, while revenue of $778.82 million came in slightly below forecasts.

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

Analysts Set New Price Targets

Separately, Bradesco Corretora downgraded Iochpe-Maxion to a "neutral" rating in a research report on Tuesday, September 15th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Iochpe-Maxion Stock Performance

Shares of IOCJY stock opened at $0.60 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average price of $0.63 and a 200 day moving average price of $0.58. The company has a market cap of $274.81 million, a P/E ratio of 14.90 and a beta of 0.79. Iochpe-Maxion has a 12 month low of $0.48 and a 12 month high of $0.73.

Iochpe-Maxion (OTCMKTS:IOCJY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $784.78 million. Sell-side analysts predict that Iochpe-Maxion will post 0.08 earnings per share for the current fiscal 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.

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