KeyCorp Brokers Boost Earnings Estimates for Altra Industrial Motion Corp (AIMC)

Altra Industrial Motion Corp (NASDAQ:AIMC) – Equities researchers at KeyCorp boosted their FY2018 earnings per share (EPS) estimates for Altra Industrial Motion in a report issued on Thursday. KeyCorp analyst J. Hammond now forecasts that the industrial products company will post earnings per share of $2.50 for the year, up from their previous forecast of $2.30.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Friday, December 15th. BidaskClub upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Robert W. Baird reiterated a “hold” rating and issued a $48.00 price target on shares of Altra Industrial Motion in a report on Wednesday, October 4th. ValuEngine downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Sidoti cut shares of Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $49.20.

Altra Industrial Motion (NASDAQ AIMC) traded up $1.70 during midday trading on Monday, hitting $53.35. The company had a trading volume of 115,700 shares, compared to its average volume of 114,954. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.57 and a current ratio of 2.69. Altra Industrial Motion has a 52-week low of $35.20 and a 52-week high of $53.35. The stock has a market capitalization of $1,560.00, a price-to-earnings ratio of 37.84 and a beta of 1.67.

Altra Industrial Motion (NASDAQ:AIMC) last posted its earnings results on Friday, October 20th. The industrial products company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $210.79 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was up 24.0% compared to the same quarter last year.

Several institutional investors have recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of Altra Industrial Motion by 2.5% in the 2nd quarter. Stifel Financial Corp now owns 5,953 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 148 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Altra Industrial Motion 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 in the last quarter. Legal & General Group Plc raised its stake in shares of Altra Industrial Motion by 10.7% in the 2nd quarter. Legal & General Group Plc now owns 6,799 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 659 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Altra Industrial Motion by 5.7% in the 2nd quarter. Voya Investment Management LLC now owns 14,961 shares of the industrial products company’s stock valued at $595,000 after purchasing an additional 804 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Altra Industrial Motion by 2.2% in the 2nd quarter. California State Teachers Retirement System now owns 50,750 shares of the industrial products company’s stock valued at $2,020,000 after purchasing an additional 1,112 shares in the last quarter.

In other Altra Industrial Motion news, VP Craig Schuele sold 3,315 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $50.00, for a total value of $165,750.00. Following the completion of the transaction, the vice president now directly owns 67,886 shares of the company’s stock, valued at approximately $3,394,300. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lipscomb S. Michael sold 25,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the completion of the transaction, the director now directly owns 15,848 shares of the company’s stock, valued at $766,092.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,415 shares of company stock valued at $1,379,049. 3.20% of the stock is owned by corporate insiders.

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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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