Altra Industrial Motion Corp (NASDAQ:AIMC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Altra Industrial Motion Corp (NASDAQ:AIMC) have been given an average rating of “Hold” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $46.75.

AIMC has been the topic of several recent analyst reports. TheStreet lowered shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a report on Monday, August 12th. KeyCorp dropped their target price on shares of Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. BidaskClub lowered shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Altra Industrial Motion from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, ValuEngine lowered shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th.

In other news, Director Larry Mcpherson sold 9,922 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $25.40, for a total transaction of $252,018.80. Following the transaction, the director now owns 9,608 shares in the company, valued at $244,043.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AIMC. Tower Research Capital LLC TRC acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter worth about $31,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter worth about $59,000. Panagora Asset Management Inc. acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter worth about $67,000. Strs Ohio acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter worth about $89,000. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter worth about $106,000.

AIMC stock traded up $0.57 during midday trading on Friday, hitting $24.55. The stock had a trading volume of 338,800 shares, compared to its average volume of 659,278. The firm has a market cap of $1.58 billion, a P/E ratio of 8.58 and a beta of 1.94. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.89. Altra Industrial Motion has a 1-year low of $23.52 and a 1-year high of $44.05. The business has a fifty day moving average price of $30.71 and a two-hundred day moving average price of $32.57.

Altra Industrial Motion (NASDAQ:AIMC) last released its earnings results on Thursday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.08). The firm had revenue of $466.50 million during the quarter, compared to analyst estimates of $488.01 million. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 10.50%. Altra Industrial Motion’s quarterly revenue was up 96.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities analysts anticipate that Altra Industrial Motion will post 2.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.68 annualized dividend and a dividend yield of 2.77%. Altra Industrial Motion’s dividend payout ratio is currently 23.78%.

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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