Zacks Investment Research Lowers Altra Industrial Motion (AIMC) to Hold

Altra Industrial Motion (NASDAQ:AIMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “In the month, Altra Industrial's shares have outperformed the industry. We believe that the company 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 pending), 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.”

A number of other research firms have also recently weighed in on AIMC. Robert W. Baird reiterated a “neutral” rating on shares of Altra Industrial Motion in a report on Monday, October 23rd. BidaskClub upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Sidoti cut 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, ValuEngine cut Altra Industrial Motion from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $50.80.

Altra Industrial Motion (NASDAQ AIMC) traded down $0.75 during midday trading on Thursday, hitting $51.65. The stock had a trading volume of 31,428 shares, compared to its average volume of 103,617. The stock has a market cap of $1,544.28, a PE ratio of 36.67 and a beta of 1.67. 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 fifty-two week low of $35.20 and a fifty-two week high of $53.70.

In related news, VP Craig Schuele sold 3,315 shares of the stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $50.00, for a total transaction of $165,750.00. Following the transaction, the vice president now 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 available through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp lifted its stake in Altra Industrial Motion by 2.5% during the 2nd quarter. Stifel Financial Corp now owns 5,953 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 148 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Altra Industrial Motion by 23.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 479 shares in the last quarter. Legal & General Group Plc lifted its stake in Altra Industrial Motion by 10.7% during the 2nd quarter. Legal & General Group Plc now owns 6,799 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 659 shares in the last quarter. Voya Investment Management LLC lifted its stake in Altra Industrial Motion by 5.7% during the 2nd quarter. Voya Investment Management LLC now owns 14,961 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 804 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Altra Industrial Motion by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 50,750 shares of the industrial products company’s stock worth $2,020,000 after acquiring an additional 1,112 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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