Altra Industrial Motion Corp. (AIMC) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) from a hold rating to a buy rating in a research report report published on Thursday. They currently have $52.00 price target on the industrial products company’s stock.
According to Zacks, “Over the last six months, Altra Industrial's shares have outperformed the industry. We believe that the company holds solid potential for organic and inorganic growth. For instance, the Stromag acquisition (completed in January) is predicted to be earnings accretive in 2017. Also, the company has been progressing well on its restructuring and cost-saving strategies. For 2017, the company increased its revenue guidance to $850-$865 million from the earlier projection of $840-$855 million. Non-GAAP earnings are anticipated to be $1.95-$2.05 per share, up from $1.83-$1.93 predicted earlier.”
Other equities analysts also recently issued reports about the company. BMO Capital Markets restated a buy rating and issued a $53.00 price objective on shares of Altra Industrial Motion Corp. in a report on Wednesday, September 6th. ValuEngine upgraded Altra Industrial Motion Corp. from a hold rating to a buy rating in a report on Friday, September 1st. Robert W. Baird restated a hold rating and issued a $48.00 price objective on shares of Altra Industrial Motion Corp. in a report on Wednesday. Sidoti downgraded Altra Industrial Motion Corp. from a buy rating to a neutral rating and set a $53.00 price objective on the stock. in a report on Wednesday. They noted that the move was a valuation call. Finally, BidaskClub downgraded Altra Industrial Motion Corp. from a hold rating to a sell rating in a report on Saturday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $49.20.
Altra Industrial Motion Corp. (NASDAQ:AIMC) opened at 46.00 on Thursday. The firm has a 50-day moving average price of $46.52 and a 200 day moving average price of $42.43. Altra Industrial Motion Corp. has a 52-week low of $27.35 and a 52-week high of $49.60. The firm has a market capitalization of $1.35 billion, a P/E ratio of 38.46 and a beta of 1.67.
Altra Industrial Motion Corp. (NASDAQ:AIMC) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $223.35 million for the quarter, compared to the consensus estimate of $219.15 million. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Analysts forecast that Altra Industrial Motion Corp. will post $2.04 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th were paid a $0.17 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.48%. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is currently 59.13%.
In other news, CEO Carl R. Christenson sold 1,601 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $47.00, for a total value of $75,247.00. Following the completion of the sale, the chief executive officer now owns 98,805 shares in the company, valued at $4,643,835. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lyle G. Ganske sold 10,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.30, for a total value of $453,000.00. Following the completion of the sale, the director now owns 11,493 shares of the company’s stock, valued at approximately $520,632.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,104 shares of company stock valued at $2,934,408. Insiders own 3.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Altra Industrial Motion Corp. in the second quarter valued at about $2,229,000. Dynamic Technology Lab Private Ltd acquired a new stake in Altra Industrial Motion Corp. during the 2nd quarter valued at approximately $642,000. Wasatch Advisors Inc. grew its stake in Altra Industrial Motion Corp. by 38.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 342,509 shares of the industrial products company’s stock valued at $13,632,000 after purchasing an additional 94,230 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Altra Industrial Motion Corp. by 23.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 479 shares in the last quarter. Finally, Castleark Management LLC acquired a new stake in Altra Industrial Motion Corp. during the 2nd quarter valued at approximately $5,383,000. Institutional investors and hedge funds own 98.31% of the company’s stock.
About Altra Industrial Motion Corp.
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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