Altra Industrial Motion (AIMC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Altra Industrial Motion (NASDAQ:AIMC) from a hold rating to a buy rating in a research report report published on Monday morning. Zacks Investment Research currently has $60.00 target price on the industrial products company’s stock.

According to Zacks, “In the six months, 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 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.”

Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Altra Industrial Motion from a hold rating to a buy rating in a report on Wednesday, December 27th. Robert W. Baird reiterated a hold rating and issued a $48.00 price objective on shares of Altra Industrial Motion in a report on Wednesday, October 4th. ValuEngine cut Altra Industrial Motion from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, Sidoti cut Altra Industrial Motion from a buy rating to a neutral rating and set a $53.00 price objective on the stock. in a report on Wednesday, October 4th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $50.80.

Altra Industrial Motion (NASDAQ AIMC) traded down $0.05 during trading hours on Monday, hitting $53.30. The stock had a trading volume of 96,900 shares, compared to its average volume of 113,664. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.69 and a quick ratio of 1.57. Altra Industrial Motion has a 52-week low of $35.20 and a 52-week high of $53.70. The firm has a market cap of $1,561.84, a PE ratio of 37.80 and a beta of 1.67.

In other news, VP Craig Schuele sold 3,315 shares of the business’s stock in a transaction that occurred on 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 directly owns 67,886 shares in the company, valued at approximately $3,394,300. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lipscomb S. Michael sold 25,000 shares of the business’s stock in a transaction that occurred 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 owns 15,848 shares in the company, valued at $766,092.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,415 shares of company stock worth $1,379,049. Insiders own 3.20% of the company’s stock.

Several institutional investors have recently modified their holdings of AIMC. Ameritas Investment Partners Inc. boosted its holdings in shares of 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 purchasing an additional 479 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Altra Industrial Motion by 848.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock valued at $185,000 after buying an additional 4,156 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Altra Industrial Motion during the 3rd quarter valued at approximately $203,000. Stifel Financial Corp raised its position in shares of 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 valued at $237,000 after buying an additional 148 shares during the period. Finally, Simplex Trading LLC raised its position in shares of Altra Industrial Motion by 244.6% during the 3rd quarter. Simplex Trading LLC now owns 4,935 shares of the industrial products company’s stock valued at $237,000 after buying an additional 3,503 shares during the period.

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About Altra Industrial Motion

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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