Altra Industrial Motion (NASDAQ:AIMC)‘s stock had its “neutral” rating restated by investment analysts at Robert W. Baird in a report released on Thursday. They presently have a $50.00 price objective on the industrial products company’s stock, down from their prior price objective of $54.00. Robert W. Baird’s price target points to a potential upside of 12.74% from the company’s current price.
Several other brokerages have also weighed in on AIMC. Zacks Investment Research raised Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, January 22nd. BidaskClub upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, ValuEngine downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $51.67.
Altra Industrial Motion (NASDAQ AIMC) traded up $0.30 during mid-day trading on Thursday, reaching $44.35. The company’s stock had a trading volume of 277,400 shares, compared to its average volume of 146,123. The company has a quick ratio of 1.57, a current ratio of 2.69 and a debt-to-equity ratio of 0.77. Altra Industrial Motion has a 52 week low of $36.50 and a 52 week high of $53.70. The firm has a market cap of $1,289.58, a price-to-earnings ratio of 24.92 and a beta of 1.61.
Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Wednesday, February 21st. The industrial products company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Altra Industrial Motion had a return on equity of 16.24% and a net margin of 5.87%. The business had revenue of $223.30 million for the quarter, compared to analyst estimates of $214.70 million. During the same period last year, the business posted $0.41 EPS. Altra Industrial Motion’s revenue was up 29.4% on a year-over-year basis. equities analysts anticipate that Altra Industrial Motion will post 2.33 earnings per share for the current fiscal year.
In other Altra Industrial Motion news, VP Craig Schuele sold 3,315 shares of Altra Industrial Motion stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $50.00, for a total value of $165,750.00. Following the transaction, the vice president now directly owns 67,886 shares in the company, valued at approximately $3,394,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Altra Industrial Motion in the 4th quarter valued at approximately $203,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Altra Industrial Motion in the 4th quarter valued at approximately $209,000. MetLife Investment Advisors LLC acquired a new stake in shares of Altra Industrial Motion in the 4th quarter valued at approximately $686,000. Millennium Management LLC lifted its holdings in shares of Altra Industrial Motion by 15.1% in the 4th quarter. Millennium Management LLC now owns 185,665 shares of the industrial products company’s stock valued at $9,358,000 after buying an additional 24,403 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of Altra Industrial Motion by 20.4% in the 4th quarter. Earnest Partners LLC now owns 1,902,381 shares of the industrial products company’s stock valued at $95,880,000 after buying an additional 322,792 shares during the period. Institutional investors own 99.09% of the company’s stock.
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About Altra Industrial Motion
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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