Analysts Set Altra Industrial Motion Corp (AIMC) Price Target at $52.00

Shares of Altra Industrial Motion Corp (NASDAQ:AIMC) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.00.

A number of research analysts recently commented on AIMC shares. Zacks Investment Research upgraded shares of Altra Industrial Motion from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, October 3rd. BidaskClub upgraded shares of Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 18th. BMO Capital Markets lowered their price objective on shares of Altra Industrial Motion from $59.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, August 30th. Sidoti upgraded shares of Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, August 30th. Finally, ValuEngine lowered shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th.

Shares of NASDAQ AIMC traded down $0.34 during mid-day trading on Friday, reaching $39.06. 37,038 shares of the company traded hands, compared to its average volume of 656,716. Altra Industrial Motion has a fifty-two week low of $37.80 and a fifty-two week high of $53.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.58 and a quick ratio of 1.50. The firm has a market capitalization of $1.21 billion, a PE ratio of 19.08 and a beta of 1.69.

Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings data on Thursday, July 26th. The industrial products company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. Altra Industrial Motion had a net margin of 5.87% and a return on equity of 16.87%. The business had revenue of $237.32 million for the quarter, compared to analyst estimates of $239.02 million. During the same quarter last year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Altra Industrial Motion will post 2.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th were given a $0.17 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.68 annualized dividend and a yield of 1.74%. Altra Industrial Motion’s dividend payout ratio (DPR) is 33.17%.

In other Altra Industrial Motion news, VP Todd Patriacca sold 3,300 shares of Altra Industrial Motion stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $46.00, for a total value of $151,800.00. Following the transaction, the vice president now owns 22,590 shares in the company, valued at $1,039,140. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. WealthTrust Fairport LLC grew its position in Altra Industrial Motion by 131.4% in the second quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock worth $170,000 after buying an additional 2,234 shares during the last quarter. Royal Bank of Canada grew its position in Altra Industrial Motion by 1.3% in the first quarter. Royal Bank of Canada now owns 322,815 shares of the industrial products company’s stock worth $14,834,000 after buying an additional 4,210 shares during the last quarter. Earnest Partners LLC grew its position in Altra Industrial Motion by 0.6% in the second quarter. Earnest Partners LLC now owns 1,951,449 shares of the industrial products company’s stock worth $84,107,000 after buying an additional 11,332 shares during the last quarter. Sei Investments Co. grew its position in Altra Industrial Motion by 11.7% in the second quarter. Sei Investments Co. now owns 96,791 shares of the industrial products company’s stock worth $4,172,000 after buying an additional 10,127 shares during the last quarter. Finally, UBS Group AG grew its position in Altra Industrial Motion by 138.7% in the first quarter. UBS Group AG now owns 6,589 shares of the industrial products company’s stock worth $303,000 after buying an additional 3,829 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.

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