Altra Industrial Motion Corp. (NASDAQ:AIMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $52.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.04% from the stock’s previous close.

According to Zacks, “Over 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 (completed in January) 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 $850-$865 million from the earlier projection of $840-$855 million. Non-GAAP earnings are anticipated to be $1.95-$2.05 per share, up from $1.83-$1.93 predicted earlier.”

Other analysts also recently issued research reports about the company. ValuEngine downgraded Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research note on Monday. Sidoti downgraded Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 price objective on the stock. in a research note on Wednesday. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price objective on shares of Altra Industrial Motion Corp. in a research note on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research note on Wednesday, September 6th. Finally, BidaskClub downgraded Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Altra Industrial Motion Corp. currently has a consensus rating of “Hold” and a consensus target price of $49.20.

Shares of Altra Industrial Motion Corp. (NASDAQ AIMC) traded up 0.11% during midday trading on Thursday, hitting $46.05. The stock had a trading volume of 159,356 shares. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 38.50 and a beta of 1.67. The stock has a 50 day moving average price of $46.42 and a 200-day moving average price of $42.35. Altra Industrial Motion Corp. has a 52 week low of $27.35 and a 52 week high of $49.60.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its quarterly earnings results 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 business had revenue of $223.35 million for the quarter, compared to analyst estimates of $219.15 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was up 22.3% on a year-over-year basis. Equities research analysts anticipate that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current year.

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In other Altra Industrial Motion Corp. news, Director Lyle G. Ganske sold 10,000 shares of Altra Industrial Motion Corp. stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.30, for a total value of $453,000.00. Following the sale, the director now owns 11,493 shares of the company’s stock, valued at approximately $520,632.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl R. Christenson sold 8,323 shares of Altra Industrial Motion Corp. stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $47.00, for a total value of $391,181.00. Following the completion of the sale, the chief executive officer now directly 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 worth $2,934,408 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its stake in shares of Altra Industrial Motion Corp. by 23.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 479 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Altra Industrial Motion Corp. by 44.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 1,010 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Altra Industrial Motion Corp. by 191.6% in the second quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 2,926 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Altra Industrial Motion Corp. by 848.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 4,156 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Altra Industrial Motion Corp. in the first quarter valued at about $226,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

About Altra Industrial Motion Corp.

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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Analyst Recommendations for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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