Wall Street brokerages expect Altra Industrial Motion Corp (NASDAQ:AIMC) to report sales of $456.34 million for the current quarter, according to Zacks. Two analysts have made estimates for Altra Industrial Motion’s earnings, with estimates ranging from $453.10 million to $459.58 million. Altra Industrial Motion posted sales of $223.32 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 104.3%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 21st.
According to Zacks, analysts expect that Altra Industrial Motion will report full year sales of $1.16 billion for the current year, with estimates ranging from $1.16 billion to $1.17 billion. For the next year, analysts forecast that the firm will report sales of $1.97 billion, with estimates ranging from $1.96 billion to $1.98 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Altra Industrial Motion.
A number of research firms recently issued reports on AIMC. ValuEngine downgraded shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. BidaskClub downgraded shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $45.00 target price on shares of Altra Industrial Motion in a research report on Monday, November 19th. Zacks Investment Research reiterated a “strong sell” rating on shares of Altra Industrial Motion in a research report on Monday, November 12th. Finally, TheStreet downgraded shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a report on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $49.80.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Altra Industrial Motion by 8.3% during the second quarter. BlackRock Inc. now owns 2,003,997 shares of the industrial products company’s stock worth $86,373,000 after buying an additional 153,453 shares during the last quarter. Northern Trust Corp raised its holdings in Altra Industrial Motion by 0.4% during the second quarter. Northern Trust Corp now owns 368,856 shares of the industrial products company’s stock worth $15,898,000 after buying an additional 1,596 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Altra Industrial Motion by 9.5% during the second quarter. California Public Employees Retirement System now owns 56,167 shares of the industrial products company’s stock worth $2,421,000 after buying an additional 4,850 shares during the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.
Shares of Altra Industrial Motion stock traded up $0.35 during trading on Monday, reaching $29.68. 400,408 shares of the company traded hands, compared to its average volume of 451,207. The company has a quick ratio of 1.35, a current ratio of 2.34 and a debt-to-equity ratio of 0.61. Altra Industrial Motion has a 1-year low of $23.52 and a 1-year high of $48.25. The company has a market capitalization of $1.89 billion, a PE ratio of 14.48 and a beta of 1.91.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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