Altra Industrial Motion Corp. (NASDAQ:AIMC) has been given an average recommendation of “Buy” by the seven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $63.48.
AIMC has been the subject of several research reports. Zacks Investment Research cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research note on Tuesday, September 14th. Rosenblatt Securities reissued a “neutral” rating and set a $61.80 price objective (down from $64.00) on shares of Altra Industrial Motion in a research note on Monday, July 26th. Robert W. Baird restated an “outperform” rating and set a $61.80 target price (down from $74.00) on shares of Altra Industrial Motion in a report on Monday, July 26th. Oppenheimer reaffirmed a “buy” rating and set a $72.00 price objective on shares of Altra Industrial Motion in a report on Monday, June 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $60.25 target price (down previously from $70.00) on shares of Altra Industrial Motion in a research report on Tuesday, July 27th.
A number of hedge funds and other institutional investors have recently bought and sold shares of AIMC. HighTower Advisors LLC raised its position in shares of Altra Industrial Motion by 2.5% during the second quarter. HighTower Advisors LLC now owns 7,600 shares of the industrial products company’s stock valued at $494,000 after buying an additional 185 shares during the last quarter. FMR LLC increased its stake in Altra Industrial Motion by 20.9% in the second quarter. FMR LLC now owns 1,104 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 191 shares during the period. The PNC Financial Services Group Inc. grew its stake in Altra Industrial Motion by 4.7% during the first quarter. The PNC Financial Services Group Inc. now owns 4,791 shares of the industrial products company’s stock worth $264,000 after buying an additional 217 shares during the last quarter. MML Investors Services LLC grew its stake in Altra Industrial Motion by 6.1% during the second quarter. MML Investors Services LLC now owns 5,709 shares of the industrial products company’s stock worth $371,000 after buying an additional 329 shares during the last quarter. Finally, FDx Advisors Inc. grew its stake in Altra Industrial Motion by 6.7% during the second quarter. FDx Advisors Inc. now owns 5,364 shares of the industrial products company’s stock worth $349,000 after buying an additional 339 shares during the last quarter.
Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Thursday, July 22nd. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The business had revenue of $488.60 million during the quarter, compared to the consensus estimate of $467.91 million. Altra Industrial Motion had a return on equity of 11.14% and a net margin of 8.07%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. On average, sell-side analysts forecast that Altra Industrial Motion will post 3.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 4th. Stockholders of record on Friday, September 17th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, September 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. Altra Industrial Motion’s payout ratio is 11.11%.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. engages in the designs, production, and marketing of electromechanical power transmission motion control. It operates through the Power Transmission Technologies; and Automation and Specialty segments. The Power Transmission Technologies segment focuses in the production of couplings, clutches, and brakes; electromagnetic clutches and brakes; and gears.
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