ValuEngine Lowers Altra Industrial Motion (AIMC) to Hold

Altra Industrial Motion (NASDAQ:AIMC) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Tuesday, December 26th.

A number of other brokerages have also issued reports on AIMC. BMO Capital Markets reissued a “buy” rating and issued a $53.00 price objective on shares of Altra Industrial Motion in a research note on Wednesday, September 6th. Zacks Investment Research downgraded shares of Altra Industrial Motion from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird reissued a “hold” rating and issued a $48.00 price objective on shares of Altra Industrial Motion in a research note on Wednesday, October 4th. Finally, Sidoti downgraded 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.20.

Shares of Altra Industrial Motion (AIMC) opened at $51.55 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.69 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1,460.00, a P/E ratio of 36.56 and a beta of 1.67. Altra Industrial Motion has a twelve month low of $35.20 and a twelve month high of $51.75.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Friday, October 20th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $214.60 million during the quarter, compared to analyst estimates of $210.79 million. Altra Industrial Motion had a return on equity of 14.16% and a net margin of 6.19%. Altra Industrial Motion’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. research analysts expect that Altra Industrial Motion will post 2.05 EPS for the current fiscal year.

In other news, VP Craig Schuele sold 1,685 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $50.00, for a total transaction of $84,250.00. Following the transaction, the vice president now directly owns 71,201 shares of the company’s stock, valued at $3,560,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lipscomb S. Michael sold 25,000 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.34, for a total value of $1,208,500.00. Following the transaction, the director now directly owns 15,848 shares in the company, valued at $766,092.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,100 shares of company stock worth $1,463,299. Insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its position 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 acquiring an additional 479 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Altra Industrial Motion by 191.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 2,926 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Altra Industrial Motion by 848.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 4,156 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Altra Industrial Motion in the 3rd quarter valued at $203,000. Finally, Simplex Trading LLC increased its position in shares of Altra Industrial Motion by 244.6% in the 3rd quarter. Simplex Trading LLC now owns 4,935 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 3,503 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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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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