Altra Industrial Motion (NASDAQ:AIMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, December 26th.
According to Zacks, “In 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 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 $860-$870 million from the previous projection of $850-$865 million. Non-GAAP earnings are anticipated to be within $2.00-$2.06 per share, up from the earlier forecast of $1.95-$2.05. However, the company is exposed to risks arising from high debt levels, stiff competition, geopolitical issues as well as adverse foreign currency movements. Earnings estimates on the stock for both 2017 and 2018 remained stable in the last 60 days.”
Several other brokerages have also weighed in on AIMC. ValuEngine lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Sidoti lowered shares of Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Robert W. Baird reissued a “hold” rating and issued a $48.00 price target on shares of Altra Industrial Motion in a research report on Wednesday, October 4th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $53.00 price target on shares of Altra Industrial Motion in a research report on Wednesday, September 6th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.20.
Altra Industrial Motion (AIMC) opened at $51.55 on Tuesday. The firm has a market cap of $1,510.00, a P/E ratio of 36.56 and a beta of 1.67. The company has a current ratio of 2.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.77. Altra Industrial Motion has a 52-week low of $35.20 and a 52-week high of $51.75.
Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings data on Friday, October 20th. The industrial products company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. The firm had revenue of $214.60 million for the quarter, compared to analyst estimates of $210.79 million. Altra Industrial Motion had a net margin of 4.92% and a return on equity of 16.30%. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. equities analysts expect that Altra Industrial Motion will post 2.05 EPS for the current year.
In other news, VP Craig Schuele sold 3,315 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $50.00, for a total value of $165,750.00. Following the sale, the vice president now owns 67,886 shares in the company, valued at $3,394,300. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lipscomb S. Michael sold 25,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the completion of the sale, the director now owns 15,848 shares in the company, valued at approximately $766,092.32. The disclosure for this sale can be found here. In the last three months, insiders sold 30,100 shares of company stock worth $1,463,299. Insiders own 3.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Altra Industrial Motion by 9.3% in the second quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock worth $88,739,000 after acquiring an additional 189,048 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Altra Industrial Motion by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 1,749,808 shares of the industrial products company’s stock worth $69,642,000 after acquiring an additional 23,428 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Altra Industrial Motion by 28.3% in the third quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock worth $75,984,000 after acquiring an additional 348,393 shares during the last quarter. Earnest Partners LLC boosted its stake in Altra Industrial Motion by 1.4% during the third quarter. Earnest Partners LLC now owns 1,579,589 shares of the industrial products company’s stock worth $75,978,000 after buying an additional 21,044 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Altra Industrial Motion by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,301,192 shares of the industrial products company’s stock worth $51,787,000 after buying an additional 17,428 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.
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Altra Industrial Motion Company Profile
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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