Altra Industrial Motion Corp (AIMC) Receives Average Rating of “Hold” from Brokerages

Shares of Altra Industrial Motion Corp (NASDAQ:AIMC) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $50.00.

AIMC has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Zacks Investment Research raised shares of Altra Industrial Motion from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, October 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Altra Industrial Motion in a research note on Monday, November 19th. BidaskClub raised shares of Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Sidoti raised shares of Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Thursday, August 30th.

In other Altra Industrial Motion news, Chairman Carl R. Christenson purchased 5,000 shares of Altra Industrial Motion stock in a transaction on Tuesday, October 30th. The shares were acquired at an average cost of $31.44 per share, for a total transaction of $157,200.00. Following the completion of the transaction, the chairman now directly owns 96,697 shares of the company’s stock, valued at $3,040,153.68. The purchase was disclosed in a filing with the SEC, which is available at this link. 3.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. WealthTrust Fairport LLC grew its position in Altra Industrial Motion by 131.4% during the second quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock valued at $170,000 after acquiring an additional 2,234 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Altra Industrial Motion by 316.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,094 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 3,111 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Altra Industrial Motion during the second quarter valued at approximately $218,000. UBS Group AG grew its position in Altra Industrial Motion by 138.7% during the first quarter. UBS Group AG now owns 6,589 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 3,829 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Altra Industrial Motion by 28.9% during the second quarter. Xact Kapitalforvaltning AB now owns 7,137 shares of the industrial products company’s stock valued at $308,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.

AIMC traded down $0.81 on Monday, reaching $27.33. The company had a trading volume of 874,747 shares, compared to its average volume of 657,694. The company has a market capitalization of $1.81 billion, a P/E ratio of 13.33 and a beta of 1.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.34 and a quick ratio of 1.35. Altra Industrial Motion has a 52-week low of $26.80 and a 52-week high of $53.70.

Altra Industrial Motion (NASDAQ:AIMC) last announced its earnings results on Thursday, October 25th. The industrial products company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $228.48 million for the quarter, compared to the consensus estimate of $225.89 million. Altra Industrial Motion had a net margin of 5.68% and a return on equity of 17.72%. On average, equities analysts anticipate that Altra Industrial Motion will post 2.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Monday, December 17th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, December 14th. Altra Industrial Motion’s payout ratio is currently 33.17%.

About Altra Industrial Motion

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.

See Also: How to calculate the intrinsic value of a stock

Receive News & Ratings for Altra Industrial Motion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply