Altra Industrial Motion (AIMC) Lifted to Buy 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 released on Thursday. The brokerage currently has a $53.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.01% from the stock’s previous close.

According to Zacks, “We believe that Altra Industrial is poised to benefit from its solid product portfolio, exposure to diversified end markets, wide customer base and inorganic growth initiatives. 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 (results not yet released), 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 2018 have improved in the last 60 days. Despite these positives, the company's shares have underperformed the industry in the last three months.”

AIMC has been the topic of a number of other reports. ValuEngine cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub upgraded shares of Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, Robert W. Baird reiterated a “neutral” rating on shares of Altra Industrial Motion in a research note on Monday, October 23rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $49.40.

Shares of Altra Industrial Motion (NASDAQ AIMC) traded down $0.70 during mid-day trading on Thursday, reaching $46.90. 91,400 shares of the company’s stock were exchanged, compared to its average volume of 115,874. The firm has a market capitalization of $1,402.29, a PE ratio of 33.26 and a beta of 1.61. The company has a current ratio of 2.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.77. Altra Industrial Motion has a 1 year low of $35.20 and a 1 year high of $53.70.

In other news, VP Craig Schuele sold 3,315 shares of Altra Industrial Motion stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $50.00, for a total transaction of $165,750.00. Following the sale, the vice president now owns 67,886 shares in the company, valued at $3,394,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Altra Industrial Motion by 9.3% during 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 during the period. Wasatch Advisors Inc. increased its stake in shares of Altra Industrial Motion by 72.1% in the fourth quarter. Wasatch Advisors Inc. now owns 1,683,489 shares of the industrial products company’s stock valued at $84,848,000 after buying an additional 705,534 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Altra Industrial Motion by 28.3% in the third quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock valued at $75,984,000 after buying an additional 348,393 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Altra Industrial Motion by 1.4% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Altra Industrial Motion by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,301,192 shares of the industrial products company’s stock valued at $51,787,000 after buying an additional 17,428 shares in the last quarter.

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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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