Zacks Investment Research upgraded shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $49.00 price objective on the industrial products company’s stock.

According to Zacks, “Over the last six months, Altra Industrial's shares have outperformed the industry. In second-quarter 2017, the company's earnings and revenues topped their respective Zacks Consensus Estimate by 11.76% and 1.15%. Profitability improved on the back of benefits from the Stromag acquisition, strengthening end markets and improving margin profile. For 2017, it increased its revenue guidance to $850-$865 million from the previous projection of $840-$855 million. Non-GAAP earnings are anticipated to be within $1.95-$2.05 per share, up from the earlier forecast of $1.83-$1.93. Also, the company holds solid potential for organic and inorganic growth. For instance, the Stromag acquisition (completed in January) is predicted to be earnings accretive in 2017. Moreover, the company has been progressing well on its restructuring and cost-saving strategies.”

Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of Altra Industrial Motion Corp. from a hold rating to a sell rating in a report on Saturday, June 24th. Jefferies Group LLC boosted their price target on shares of Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the company a hold rating in a report on Monday, May 8th. BMO Capital Markets boosted their price target on shares of Altra Industrial Motion Corp. from $46.00 to $49.00 and gave the company an outperform rating in a report on Monday, May 1st. Finally, TheStreet upgraded shares of Altra Industrial Motion Corp. from a c+ rating to a b rating in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Altra Industrial Motion Corp. presently has a consensus rating of Buy and an average price target of $47.33.

Altra Industrial Motion Corp. (AIMC) opened at 44.00 on Thursday. Altra Industrial Motion Corp. has a 52 week low of $26.24 and a 52 week high of $46.90. The firm’s 50 day moving average is $40.90 and its 200-day moving average is $39.92. The company has a market cap of $1.28 billion, a P/E ratio of 36.79 and a beta of 1.66.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its quarterly 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. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The business had revenue of $223.35 million during the quarter, compared to analyst estimates of $219.15 million. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be issued a $0.17 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.55%. Altra Industrial Motion Corp.’s dividend payout ratio is currently 59.13%.

In other Altra Industrial Motion Corp. news, Chairman Carl R. Christenson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $43.32, for a total transaction of $1,732,800.00. Following the transaction, the chairman now owns 136,176 shares in the company, valued at approximately $5,899,144.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd Patriacca sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $42.00, for a total transaction of $42,000.00. Following the transaction, the vice president now owns 29,371 shares in the company, valued at approximately $1,233,582. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,000 shares of company stock valued at $2,214,800. Company insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaOne Investment Services LLC raised its position in shares of Altra Industrial Motion Corp. by 5.1% in the first quarter. AlphaOne Investment Services LLC now owns 102,355 shares of the industrial products company’s stock worth $3,987,000 after buying an additional 4,969 shares during the last quarter. 1st Global Advisors Inc. bought a new position in shares of Altra Industrial Motion Corp. during the first quarter worth about $202,000. Mutual of America Capital Management LLC bought a new position in shares of Altra Industrial Motion Corp. during the first quarter worth about $3,669,000. Eagle Boston Investment Management Inc. raised its position in shares of Altra Industrial Motion Corp. by 5.5% in the first quarter. Eagle Boston Investment Management Inc. now owns 200,430 shares of the industrial products company’s stock worth $7,806,000 after buying an additional 10,537 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Altra Industrial Motion Corp. by 111.8% in the first quarter. Sei Investments Co. now owns 23,037 shares of the industrial products company’s stock worth $898,000 after buying an additional 12,160 shares during the last quarter. Institutional investors and hedge funds own 98.21% 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.

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