Altra Industrial Motion (AIMC) Upgraded at Zacks Investment Research
Altra Industrial Motion (NASDAQ:AIMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $52.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.59% from the stock’s previous close.
According to Zacks, “In a year, 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. In third-quarter 2017, the company's earnings and revenues topped their respective Zacks Consensus Estimate by 4.4% and 1.2%. Also, earnings grew 37.1% year over year on the back of improving industrial market, new business opportunities, improving margin profile and foreign currency tailwind. 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. Earnings estimates for 2017 and 2018 have improved in the last 60 days.”
Several other equities analysts also recently weighed in on the company. Robert W. Baird restated a “hold” rating and set a $48.00 price target on shares of Altra Industrial Motion in a report on Wednesday, October 4th. ValuEngine upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Sidoti downgraded Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price target for the company. in a report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “buy” rating and set a $53.00 price target on shares of Altra Industrial Motion in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.20.
Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings data on Friday, October 20th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Altra Industrial Motion had a return on equity of 16.30% and a net margin of 4.92%. The business had revenue of $214.60 million during the quarter, compared to the consensus estimate of $210.79 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. sell-side analysts predict that Altra Industrial Motion will post 2.05 EPS for the current fiscal year.
In related news, Director Lipscomb S. Michael sold 25,000 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the sale, the director now directly owns 15,848 shares of the company’s stock, valued at $766,092.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Craig Schuele sold 1,685 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $50.00, for a total value of $84,250.00. Following the sale, the vice president now directly owns 71,201 shares in the company, valued at $3,560,050. The disclosure for this sale can be found here. Insiders have sold 26,785 shares of company stock valued at $1,297,549 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its position in shares of Altra Industrial Motion by 3.3% during the third quarter. California Public Employees Retirement System now owns 54,442 shares of the industrial products company’s stock valued at $2,619,000 after buying an additional 1,742 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Altra Industrial Motion during the third quarter valued at $384,000. Earnest Partners LLC boosted its position in shares of Altra Industrial Motion by 1.4% during the third quarter. Earnest Partners LLC now owns 1,579,589 shares of the industrial products company’s stock valued at $75,978,000 after buying an additional 21,044 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Altra Industrial Motion by 4.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 31,041 shares of the industrial products company’s stock valued at $1,493,000 after buying an additional 1,357 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in Altra Industrial Motion in the third quarter worth about $355,000. 99.25% of the stock is currently owned by institutional investors.
Altra Industrial Motion 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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