Altra Industrial Motion (AIMC) Rating Lowered to Buy at BidaskClub

Altra Industrial Motion (NASDAQ:AIMC) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

A number of other equities analysts also recently weighed in on AIMC. Zacks Investment Research downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Thursday, May 24th. Stephens reaffirmed a “buy” rating and set a $52.00 price target on shares of Altra Industrial Motion in a research report on Thursday, March 8th. Finally, ValuEngine downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Monday, April 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $52.20.

Altra Industrial Motion opened at $44.10 on Monday, MarketBeat reports. Altra Industrial Motion has a twelve month low of $38.80 and a twelve month high of $53.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.58 and a quick ratio of 1.54. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 21.51 and a beta of 1.63.



Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings results on Friday, April 27th. The industrial products company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Altra Industrial Motion had a return on equity of 16.28% and a net margin of 5.56%. The firm had revenue of $240.39 million during the quarter, compared to the consensus estimate of $229.34 million. During the same quarter in the prior year, the firm posted $0.53 EPS. The business’s revenue was up 11.6% on a year-over-year basis. sell-side analysts forecast that Altra Industrial Motion will post 2.47 earnings per share for the current fiscal year.

In other news, VP Todd Patriacca sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $46.00, for a total transaction of $32,200.00. Following the sale, the vice president now owns 25,890 shares in the company, valued at approximately $1,190,940. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James H. Woodward, Jr. sold 13,523 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $42.85, for a total value of $579,460.55. Following the sale, the director now owns 11,998 shares in the company, valued at approximately $514,114.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,223 shares of company stock worth $784,021. Company insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Altra Industrial Motion by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 247,758 shares of the industrial products company’s stock worth $12,486,000 after purchasing an additional 1,176 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Altra Industrial Motion by 4.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 29,755 shares of the industrial products company’s stock worth $1,500,000 after purchasing an additional 1,185 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Altra Industrial Motion by 33.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 1,400 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Altra Industrial Motion by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 266,931 shares of the industrial products company’s stock worth $13,453,000 after purchasing an additional 2,196 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Altra Industrial Motion by 5.3% during the 4th quarter. Swiss National Bank now owns 51,200 shares of the industrial products company’s stock worth $2,580,000 after purchasing an additional 2,600 shares in the last quarter.

About Altra Industrial Motion

Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.

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