Altra Industrial Motion (AIMC) Upgraded to Buy 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 sent to investors on Friday morning. The firm currently has $52.00 price target on the industrial products company’s stock.
According to Zacks, “In a year, Altra Industrial's shares have outperformed the industry. We believe that the company holds solid potential for organic and inorganic growth. 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. In third-quarter 2017, the company's earnings and revenues topped their respective Zacks Consensus Estimate by 4.4% and 1.2%. Also, earnings grew 37.1% year over year on the back of improving industrial market, new business opportunities, improving margin profile and foreign currency tailwind. For 2017, 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 2017 and 2018 have improved in the last 60 days.”
Other equities analysts have also recently issued reports about the company. Robert W. Baird reiterated a hold rating and set a $48.00 target price on shares of Altra Industrial Motion in a research note on Wednesday, October 4th. ValuEngine upgraded Altra Industrial Motion from a hold rating to a buy rating in a research note on Friday, September 1st. 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 research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a buy rating and set a $53.00 price objective on shares of Altra Industrial Motion in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $49.20.
Altra Industrial Motion (NASDAQ:AIMC) traded up $0.57 during trading on Friday, hitting $47.00. The stock had a trading volume of 404,244 shares, compared to its average volume of 109,237. The stock has a market cap of $1,390.00, a PE ratio of 23.42 and a beta of 1.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.57 and a current ratio of 2.69. Altra Industrial Motion has a 12 month low of $35.20 and a 12 month high of $50.00.
Altra Industrial Motion (NASDAQ:AIMC) last released its earnings results on Friday, October 20th. The industrial products company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The company had revenue of $214.60 million during the quarter, compared to analysts’ expectations of $210.79 million. Altra Industrial Motion had a return on equity of 16.30% and a net margin of 4.92%. The business’s revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. equities analysts forecast that Altra Industrial Motion will post 2.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, December 15th. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 48.23%.
In related news, Director Lipscomb S. Michael sold 25,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.34, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Craig Schuele sold 1,685 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $50.00, for a total value of $84,250.00. Following the transaction, the vice president now owns 71,201 shares in the company, valued at $3,560,050. The disclosure for this sale can be found here. Insiders have sold 26,785 shares of company stock worth $1,297,549 over the last 90 days. 3.20% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Altra Industrial Motion by 9.3% in the second quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock valued at $88,739,000 after buying an additional 189,048 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Altra Industrial Motion by 15.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 169,644 shares of the industrial products company’s stock valued at $6,752,000 after buying an additional 22,833 shares during the last quarter. Parametrica Management Ltd bought a new stake in Altra Industrial Motion in the third quarter valued at $418,000. Earnest Partners LLC lifted its stake in Altra Industrial Motion by 0.7% in the second quarter. Earnest Partners LLC now owns 1,558,545 shares of the industrial products company’s stock valued at $62,030,000 after buying an additional 11,531 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Altra Industrial Motion in the second quarter valued at $1,429,000. Institutional investors own 99.25% of the company’s stock.
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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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