Altra Industrial Motion Corp. (AIMC) Cut to Neutral at Sidoti
Altra Industrial Motion Corp. (NASDAQ:AIMC) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Wednesday. The analysts noted that the move was a valuation call.
Several other research firms also recently weighed in on AIMC. Robert W. Baird reissued a “hold” rating and set a $48.00 price target on shares of Altra Industrial Motion Corp. in a research report on Wednesday. ValuEngine cut Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research downgraded Altra Industrial Motion Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BMO Capital Markets restated a “buy” rating and issued a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research report on Wednesday, September 6th. Finally, BidaskClub downgraded Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.50.
Altra Industrial Motion Corp. (NASDAQ:AIMC) traded down 5.85% on Wednesday, reaching $45.90. 470,991 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $46.38 and a 200-day moving average of $42.32. Altra Industrial Motion Corp. has a 12-month low of $27.35 and a 12-month high of $49.60. The company has a market cap of $1.35 billion, a P/E ratio of 38.38 and a beta of 1.67.
Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The firm had revenue of $223.35 million during the quarter, compared to the consensus estimate of $219.15 million. During the same period in the previous year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Equities analysts expect that Altra Industrial Motion Corp. will post $2.04 EPS for the current fiscal year.
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In other news, Director Lyle G. Ganske sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.30, for a total transaction of $453,000.00. Following the sale, the director now owns 11,493 shares in the company, valued at $520,632.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl R. Christenson sold 8,323 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $47.00, for a total value of $391,181.00. Following the sale, the chief executive officer now owns 98,805 shares in the company, valued at approximately $4,643,835. The disclosure for this sale can be found here. Insiders sold a total of 64,104 shares of company stock valued at $2,934,408 over the last quarter. 3.20% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in AIMC. Vanguard Group Inc. increased its stake in Altra Industrial Motion Corp. by 9.3% in the second quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock valued at $88,739,000 after purchasing an additional 189,048 shares during the last quarter. Castleark Management LLC purchased a new position in Altra Industrial Motion Corp. during the second quarter worth about $5,383,000. Loomis Sayles & Co. L P lifted its position in Altra Industrial Motion Corp. by 106.3% during the first quarter. Loomis Sayles & Co. L P now owns 250,034 shares of the industrial products company’s stock worth $9,739,000 after buying an additional 128,806 shares during the period. Wasatch Advisors Inc. boosted its stake in Altra Industrial Motion Corp. by 38.0% in the 2nd quarter. Wasatch Advisors Inc. now owns 342,509 shares of the industrial products company’s stock worth $13,632,000 after buying an additional 94,230 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Altra Industrial Motion Corp. by 19.3% in the 1st quarter. Nuveen Asset Management LLC now owns 426,304 shares of the industrial products company’s stock worth $16,605,000 after buying an additional 68,860 shares during the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.
Altra Industrial Motion Corp. 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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