Altra Industrial Motion (NASDAQ:AIMC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.
A number of other brokerages have also commented on AIMC. Sidoti upgraded shares of Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday, August 30th. Zacks Investment Research lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. BMO Capital Markets decreased their price target on shares of Altra Industrial Motion from $59.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, August 30th. BidaskClub upgraded shares of Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Robert W. Baird restated a “buy” rating and set a $52.00 price target on shares of Altra Industrial Motion in a research note on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $52.00.
Shares of NASDAQ:AIMC traded down $1.51 during mid-day trading on Friday, hitting $35.60. The company had a trading volume of 2,921,200 shares, compared to its average volume of 678,053. The firm has a market capitalization of $1.15 billion, a P/E ratio of 17.37 and a beta of 1.69. The company has a quick ratio of 1.50, a current ratio of 2.58 and a debt-to-equity ratio of 0.63. Altra Industrial Motion has a one year low of $35.01 and a one year high of $53.70.
Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings data on Thursday, July 26th. The industrial products company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $237.32 million during the quarter, compared to analyst estimates of $239.02 million. Altra Industrial Motion had a net margin of 5.87% and a return on equity of 16.87%. Altra Industrial Motion’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. On average, analysts anticipate that Altra Industrial Motion will post 2.58 EPS for the current fiscal year.
In other Altra Industrial Motion news, VP Todd Patriacca sold 3,300 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $46.00, for a total transaction of $151,800.00. Following the completion of the sale, the vice president now owns 22,590 shares in the company, valued at approximately $1,039,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in Altra Industrial Motion by 128.5% during the 1st quarter. Millennium Management LLC now owns 424,320 shares of the industrial products company’s stock worth $19,498,000 after acquiring an additional 238,655 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in Altra Industrial Motion by 7.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,293,303 shares of the industrial products company’s stock worth $98,841,000 after acquiring an additional 159,453 shares during the last quarter. BlackRock Inc. boosted its holdings in Altra Industrial Motion by 8.3% during the 2nd quarter. BlackRock Inc. now owns 2,003,997 shares of the industrial products company’s stock worth $86,373,000 after acquiring an additional 153,453 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Altra Industrial Motion by 18.2% during the 2nd quarter. Victory Capital Management Inc. now owns 985,550 shares of the industrial products company’s stock worth $42,478,000 after acquiring an additional 152,097 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Altra Industrial Motion by 313.2% during the 2nd quarter. Citadel Advisors LLC now owns 132,929 shares of the industrial products company’s stock worth $5,729,000 after acquiring an additional 100,762 shares during the last quarter. Institutional investors and hedge funds own 99.75% of the company’s stock.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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