Altra Industrial Motion (NASDAQ:AIMC) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.
AIMC has been the subject of several other reports. KeyCorp boosted their price objective on shares of Altra Industrial Motion from $25.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. ValuEngine upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating in a research report on Friday, July 24th. Zacks Investment Research raised Altra Industrial Motion from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research note on Friday, June 5th. Needham & Company LLC initiated coverage on Altra Industrial Motion in a research note on Tuesday, April 28th. They set a “neutral” rating and a $22.00 target price for the company. Finally, Rosenblatt Securities restated a “hold” rating on shares of Altra Industrial Motion in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Altra Industrial Motion has an average rating of “Buy” and an average price target of $37.57.
NASDAQ:AIMC opened at $34.23 on Friday. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.03 and a beta of 2.54. Altra Industrial Motion has a fifty-two week low of $12.00 and a fifty-two week high of $38.43. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.80 and a current ratio of 2.27. The stock has a fifty day moving average price of $31.65 and a 200-day moving average price of $28.46.
Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.26. The business had revenue of $400.80 million during the quarter, compared to the consensus estimate of $367.98 million. Altra Industrial Motion had a positive return on equity of 9.13% and a negative net margin of 1.85%. Altra Industrial Motion’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Research analysts predict that Altra Industrial Motion will post 2.21 EPS for the current fiscal year.
In other news, CFO Christian Storch sold 8,922 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $28.40, for a total value of $253,384.80. Following the completion of the transaction, the chief financial officer now owns 16,468 shares of the company’s stock, valued at $467,691.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. First Bank & Trust grew its stake in shares of Altra Industrial Motion by 180.0% in the first quarter. First Bank & Trust now owns 2,394 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 1,539 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Altra Industrial Motion by 18.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,933 shares of the industrial products company’s stock worth $86,000 after buying an additional 776 shares during the period. Advisor Group Holdings Inc. bought a new stake in shares of Altra Industrial Motion in the 1st quarter valued at about $105,000. Triad Investment Management acquired a new stake in shares of Altra Industrial Motion in the second quarter valued at about $231,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Altra Industrial Motion during the fourth quarter worth about $270,000. Institutional investors own 99.26% of the company’s stock.
About Altra Industrial Motion
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.
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