Altra Industrial Motion (AIMC) Downgraded by Zacks Investment Research
Altra Industrial Motion (NASDAQ:AIMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Year to date, 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 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 $860-$870 million from the previous projection of $850-$865 million. Non-GAAP earnings are anticipated to be within $2.00-$2.06 per share, up from the earlier forecast of $1.95-$2.05. However, the company is exposed to risks arising from high debt levels, stiff competition, geopolitical issues as well as adverse foreign currency movements.”
Other equities analysts have also recently issued reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 target price on shares of Altra Industrial Motion in a research note on Wednesday, September 6th. ValuEngine raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Sidoti cut shares of Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $48.00 target price on shares of Altra Industrial Motion in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $49.20.
Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings data on Friday, October 20th. The industrial products company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $214.60 million for the quarter, compared to the consensus estimate of $210.79 million. Altra Industrial Motion had a net margin of 4.92% and a return on equity of 16.30%. The company’s revenue was up 24.0% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. equities analysts expect that Altra Industrial Motion will post 2.05 earnings per share for the current year.
In other Altra Industrial Motion news, Chairman Carl R. Christenson sold 10,000 shares of Altra Industrial Motion stock in a transaction on Friday, September 15th. The shares were sold at an average price of $47.00, for a total value of $470,000.00. Following the completion of the transaction, the chairman now directly owns 98,805 shares of the company’s stock, valued at approximately $4,643,835. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Craig Schuele sold 1,685 shares of Altra Industrial Motion stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $50.00, for a total transaction of $84,250.00. Following the completion of the transaction, the vice president now directly owns 71,201 shares of the company’s stock, valued at $3,560,050. The disclosure for this sale can be found here. Insiders have sold 36,785 shares of company stock valued at $1,767,549 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Altra Industrial Motion by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock worth $88,739,000 after buying an additional 189,048 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Altra Industrial Motion by 13.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,798,099 shares of the industrial products company’s stock worth $66,350,000 after purchasing an additional 217,955 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Altra Industrial Motion by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,749,808 shares of the industrial products company’s stock worth $69,642,000 after purchasing an additional 23,428 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Altra Industrial Motion by 28.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock worth $75,984,000 after purchasing an additional 348,393 shares during the period. Finally, Earnest Partners LLC boosted its stake in shares of Altra Industrial Motion by 1.4% during the 3rd quarter. Earnest Partners LLC now owns 1,579,589 shares of the industrial products company’s stock worth $75,978,000 after purchasing an additional 21,044 shares during the period. 99.25% of the stock is owned by institutional investors and hedge funds.
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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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