Altra Industrial Motion Corp. (NASDAQ:AIMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $52.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.04% from the company’s current price.

According to Zacks, “Over the last six months, 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 (completed in January) is predicted to be earnings accretive in 2017. Also, the company has been progressing well on its restructuring and cost-saving strategies. For 2017, the company increased its revenue guidance to $850-$865 million from the earlier projection of $840-$855 million. Non-GAAP earnings are anticipated to be $1.95-$2.05 per share, up from $1.83-$1.93 predicted earlier.”

A number of other equities analysts have also issued reports on the company. ValuEngine raised Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub lowered Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 price target on shares of Altra Industrial Motion Corp. in a research note on Thursday, July 27th. Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price target on shares of Altra Industrial Motion Corp. in a research note on Wednesday. Finally, Sidoti lowered Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 price target for the company. in a research note on Wednesday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Altra Industrial Motion Corp. has an average rating of “Hold” and a consensus target price of $49.20.

Altra Industrial Motion Corp. (NASDAQ AIMC) traded down 0.43% during mid-day trading on Thursday, hitting $45.80. The company had a trading volume of 130,357 shares. The firm has a market cap of $1.34 billion, a P/E ratio of 38.29 and a beta of 1.67. Altra Industrial Motion Corp. has a 52-week low of $27.35 and a 52-week high of $49.60. The stock’s 50 day moving average price is $46.42 and its 200 day moving average price is $42.35.

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

WARNING: “Altra Industrial Motion Corp. (AIMC) Upgraded to “Buy” at Zacks Investment Research” was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/altra-industrial-motion-corp-aimc-upgraded-to-buy-at-zacks-investment-research/1610224.html.

In other news, CEO Carl R. Christenson sold 1,601 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $47.00, for a total transaction of $75,247.00. Following the completion of the sale, the chief executive officer now owns 98,805 shares in the company, valued at approximately $4,643,835. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lyle G. Ganske sold 10,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $45.30, for a total value of $453,000.00. Following the sale, the director now owns 11,493 shares of the company’s stock, valued at approximately $520,632.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,104 shares of company stock valued at $2,934,408. 3.20% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Altra Industrial Motion Corp. by 31.6% during the 1st quarter. Bank of America Corp DE now owns 241,876 shares of the industrial products company’s stock valued at $9,421,000 after acquiring an additional 58,023 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Altra Industrial Motion Corp. by 10.2% during the 1st quarter. AQR Capital Management LLC now owns 46,319 shares of the industrial products company’s stock valued at $1,804,000 after acquiring an additional 4,294 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Altra Industrial Motion Corp. by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 2,040,568 shares of the industrial products company’s stock valued at $79,480,000 after acquiring an additional 117,984 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Altra Industrial Motion Corp. by 1.2% during the 1st quarter. Macquarie Group Ltd. now owns 1,202,576 shares of the industrial products company’s stock valued at $46,840,000 after acquiring an additional 14,745 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. lifted its position in shares of Altra Industrial Motion Corp. by 1.2% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 202,803 shares of the industrial products company’s stock valued at $8,071,000 after acquiring an additional 2,373 shares during the last quarter. 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)

Receive News & Ratings for Altra Industrial Motion Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.