Analysts Set Altra Industrial Motion Corp (AIMC) Target Price at $53.25

Shares of Altra Industrial Motion Corp (NASDAQ:AIMC) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.25.

A number of analysts have weighed in on the company. BidaskClub cut Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 3rd. Zacks Investment Research lowered Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th.

In other news, Director James H. Woodward, Jr. sold 13,523 shares of Altra Industrial Motion stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $42.85, for a total value of $579,460.55. Following the transaction, the director now directly owns 11,998 shares in the company, valued at $514,114.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd Patriacca sold 4,000 shares of Altra Industrial Motion stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $43.09, for a total value of $172,360.00. Following the completion of the transaction, the vice president now owns 26,590 shares in the company, valued at $1,145,763.10. The disclosure for this sale can be found here. Insiders sold 18,223 shares of company stock worth $784,021 over the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Wasatch Advisors Inc. increased its stake in Altra Industrial Motion by 26.8% during the first quarter. Wasatch Advisors Inc. now owns 2,133,850 shares of the industrial products company’s stock valued at $98,050,000 after acquiring an additional 450,361 shares during the period. Earnest Partners LLC increased its stake in Altra Industrial Motion by 2.0% during the first quarter. Earnest Partners LLC now owns 1,940,117 shares of the industrial products company’s stock valued at $89,148,000 after acquiring an additional 37,736 shares during the period. BlackRock Inc. increased its stake in Altra Industrial Motion by 1.7% during the first quarter. BlackRock Inc. now owns 1,850,544 shares of the industrial products company’s stock valued at $85,033,000 after acquiring an additional 31,518 shares during the period. JPMorgan Chase & Co. increased its stake in Altra Industrial Motion by 11.3% during the first quarter. JPMorgan Chase & Co. now owns 1,608,237 shares of the industrial products company’s stock valued at $73,898,000 after acquiring an additional 163,515 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Altra Industrial Motion by 17.4% during the first quarter. Wells Fargo & Company MN now owns 637,671 shares of the industrial products company’s stock valued at $29,301,000 after acquiring an additional 94,423 shares during the period.

Shares of NASDAQ:AIMC traded down $0.70 on Friday, reaching $43.55. The company had a trading volume of 73,000 shares, compared to its average volume of 153,586. Altra Industrial Motion has a twelve month low of $38.88 and a twelve month high of $53.70. The stock has a market capitalization of $1.30 billion, a P/E ratio of 21.22 and a beta of 1.62. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.58 and a quick ratio of 1.54.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Friday, April 27th. The industrial products company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Altra Industrial Motion had a return on equity of 16.28% and a net margin of 5.56%. The company had revenue of $240.39 million during the quarter, compared to analysts’ expectations of $229.34 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. research analysts expect that Altra Industrial Motion will post 2.47 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 3rd. Stockholders of record on Monday, June 18th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, June 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.56%. Altra Industrial Motion’s payout ratio is presently 33.17%.

About Altra Industrial Motion

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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