Altra Industrial Motion Corp. (AIMC) Stock Rating Lowered by Sidoti

Altra Industrial Motion Corp. (NASDAQ:AIMC) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, October 4th, Marketbeat Ratings reports. They currently have a $53.00 price target on the industrial products company’s stock. Sidoti’s target price would indicate a potential upside of 8.27% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other brokerages also recently commented on AIMC. ValuEngine downgraded Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Robert W. Baird reiterated a “hold” rating and set a $48.00 target price on shares of Altra Industrial Motion Corp. in a report on Wednesday, October 4th. Zacks Investment Research downgraded Altra Industrial Motion Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. BMO Capital Markets reiterated a “buy” rating and set a $53.00 target price on shares of Altra Industrial Motion Corp. in a report on Wednesday, September 6th. Finally, BidaskClub downgraded Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $49.20.

Shares of Altra Industrial Motion Corp. (AIMC) opened at 48.95 on Wednesday. Altra Industrial Motion Corp. has a one year low of $27.35 and a one year high of $49.60. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 40.93 and a beta of 1.67. The company has a 50-day moving average of $46.95 and a 200 day moving average of $42.86.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $223.35 million for the quarter, compared to the consensus estimate of $219.15 million. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The company’s revenue was up 22.3% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Equities research analysts forecast that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current fiscal year.

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In related news, VP Gerald P. Ferris sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $44.50, for a total transaction of $667,500.00. Following the completion of the transaction, the vice president now owns 16,722 shares in the company, valued at approximately $744,129. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Carl R. Christenson sold 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $46.00, for a total value of $460,000.00. Following the transaction, the chairman now owns 98,805 shares of the company’s stock, valued at approximately $4,545,030. The disclosure for this sale can be found here. Insiders sold a total of 64,104 shares of company stock valued at $2,934,408 over the last quarter. Company insiders own 3.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in Altra Industrial Motion Corp. during the 2nd quarter worth $2,229,000. Dynamic Technology Lab Private Ltd acquired a new position in Altra Industrial Motion Corp. during the 2nd quarter worth $642,000. Wasatch Advisors Inc. boosted its position in Altra Industrial Motion Corp. by 38.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 342,509 shares of the industrial products company’s stock worth $13,632,000 after acquiring an additional 94,230 shares during the period. Ameritas Investment Partners Inc. boosted its position in Altra Industrial Motion Corp. 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 during the period. Finally, Castleark Management LLC acquired a new position in Altra Industrial Motion Corp. during the 2nd quarter worth $5,383,000. Institutional investors own 98.31% of the company’s stock.

Altra Industrial Motion Corp. 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.

Analyst Recommendations for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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