Altra Industrial Motion (NASDAQ:AIMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $60.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.46% from the company’s previous close.
According to Zacks, “In the six months, Altra Industrial's shares have outperformed the industry. We believe that the company is poised to benefit from its solid product portfolio, exposure to diversified end markets, wide customer base and inorganic growth initiatives. For instance, the Stromag acquisition is predicted to be earnings accretive in 2017. Also, the company has been progressing well on its restructuring and cost-saving strategies. For 2017 (results not yet released), the company increased its revenue guidance to $860-$870 million from the previous projection of $850-$865 million. Non-GAAP earnings are anticipated to be within $2.00-$2.06 per share, up from the earlier forecast of $1.95-$2.05. Earnings estimates for 2018 have improved in the last 60 days.”
A number of other research analysts have also recently weighed in on AIMC. ValuEngine cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Robert W. Baird restated a “hold” rating and set a $48.00 price target on shares of Altra Industrial Motion in a research note on Wednesday, October 4th. Sidoti cut shares of Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.80.
Altra Industrial Motion (NASDAQ:AIMC) traded up $1.70 on Monday, reaching $53.35. 115,700 shares of the company’s stock were exchanged, compared to its average volume of 114,954. The company has a current ratio of 2.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1,560.00, a PE ratio of 37.84 and a beta of 1.67. Altra Industrial Motion has a 52-week low of $35.20 and a 52-week high of $53.35.
Altra Industrial Motion (NASDAQ:AIMC) last released its earnings results on Friday, October 20th. The industrial products company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $214.60 million for the quarter, compared to analysts’ expectations of $210.79 million. Altra Industrial Motion had a net margin of 4.92% and a return on equity of 16.30%. The company’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. sell-side analysts expect that Altra Industrial Motion will post 2.05 EPS for the current year.
In related news, VP Craig Schuele sold 3,315 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $50.00, for a total transaction of $165,750.00. Following the sale, the vice president now owns 67,886 shares of the company’s stock, valued at approximately $3,394,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lipscomb S. Michael sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the sale, the director now directly owns 15,848 shares in the company, valued at approximately $766,092.32. The disclosure for this sale can be found here. Insiders have sold a total of 28,415 shares of company stock worth $1,379,049 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of AIMC. Wasatch Advisors Inc. increased its holdings in Altra Industrial Motion by 72.1% during the 4th quarter. Wasatch Advisors Inc. now owns 1,683,489 shares of the industrial products company’s stock worth $84,848,000 after acquiring an additional 705,534 shares during the period. Victory Capital Management Inc. increased its holdings in Altra Industrial Motion by 28.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock worth $75,984,000 after acquiring an additional 348,393 shares during the period. Vanguard Group Inc. increased its holdings in Altra Industrial Motion by 9.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock worth $88,739,000 after acquiring an additional 189,048 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in Altra Industrial Motion by 101.4% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 286,049 shares of the industrial products company’s stock worth $13,759,000 after acquiring an additional 144,049 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Altra Industrial Motion in the 2nd quarter worth $5,383,000.
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Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.
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