Altra Industrial Motion Corp (AIMC) Receives Consensus Rating of “Buy” from Analysts

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Shares of Altra Industrial Motion Corp (NASDAQ:AIMC) have received an average recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $52.00.

Several brokerages have recently commented on AIMC. BidaskClub lowered Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 3rd. Zacks Investment Research lowered Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. BMO Capital Markets boosted their price target on Altra Industrial Motion from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Robert W. Baird reissued a “buy” rating and set a $52.00 price target on shares of Altra Industrial Motion in a research note on Friday, July 20th. Finally, ValuEngine lowered Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th.

In related news, VP Todd Patriacca sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $46.00, for a total value of $151,800.00. Following the sale, the vice president now owns 22,590 shares of the company’s stock, valued at approximately $1,039,140. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in Altra Industrial Motion by 0.4% in the 2nd quarter. Northern Trust Corp now owns 368,856 shares of the industrial products company’s stock valued at $15,898,000 after buying an additional 1,596 shares in the last quarter. WealthTrust Fairport LLC lifted its stake in Altra Industrial Motion by 131.4% in the 2nd quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock valued at $170,000 after buying an additional 2,234 shares in the last quarter. California Public Employees Retirement System lifted its stake in Altra Industrial Motion by 9.5% in the 2nd quarter. California Public Employees Retirement System now owns 56,167 shares of the industrial products company’s stock valued at $2,421,000 after buying an additional 4,850 shares in the last quarter. Zebra Capital Management LLC lifted its stake in Altra Industrial Motion by 13.2% in the 2nd quarter. Zebra Capital Management LLC now owns 18,838 shares of the industrial products company’s stock valued at $812,000 after buying an additional 2,193 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Altra Industrial Motion by 316.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,094 shares of the industrial products company’s stock valued at $176,000 after buying an additional 3,111 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:AIMC opened at $38.71 on Friday. The company has a market cap of $1.21 billion, a PE ratio of 18.88 and a beta of 1.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.58. Altra Industrial Motion has a 12 month low of $37.80 and a 12 month high of $53.70.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The business had revenue of $237.32 million for the quarter, compared to analyst estimates of $239.02 million. Altra Industrial Motion had a return on equity of 16.87% and a net margin of 5.87%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS. Analysts expect that Altra Industrial Motion will post 2.54 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Friday, September 14th. Altra Industrial Motion’s dividend payout ratio (DPR) is 33.17%.

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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