Altra Industrial Motion Corp. (NASDAQ:AIMC) Receives $63.48 Average Price Target from Analysts

Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) have been given an average rating of “Buy” by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $63.48.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, September 14th. Robert W. Baird reissued an “outperform” rating and set a $61.80 price objective (down from $74.00) on shares of Altra Industrial Motion in a research note on Monday, July 26th. Oppenheimer reaffirmed a “buy” rating and issued a $72.00 target price on shares of Altra Industrial Motion in a research report on Monday, June 28th. Rosenblatt Securities restated a “neutral” rating and set a $61.80 target price (down from $64.00) on shares of Altra Industrial Motion in a report on Monday, July 26th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $60.25 price objective (down from $70.00) on shares of Altra Industrial Motion in a research note on Tuesday, July 27th.

Shares of NASDAQ:AIMC traded down $1.28 on Thursday, hitting $56.44. The company had a trading volume of 241,320 shares, compared to its average volume of 311,381. Altra Industrial Motion has a 52-week low of $36.15 and a 52-week high of $68.07. The company has a market cap of $3.66 billion, a PE ratio of 25.21, a PEG ratio of 1.09 and a beta of 2.53. The business has a 50 day moving average of $58.89 and a 200 day moving average of $61.36. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.66.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings data on Thursday, July 22nd. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.07. Altra Industrial Motion had a net margin of 8.07% and a return on equity of 11.14%. The company had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $467.91 million. During the same period in the previous year, the company earned $0.60 EPS. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, equities analysts predict that Altra Industrial Motion will post 3.44 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 4th. Stockholders of record on Friday, September 17th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, September 16th. Altra Industrial Motion’s payout ratio is currently 11.11%.

Several institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP acquired a new stake in shares of Altra Industrial Motion during the 2nd quarter worth approximately $32,000. Cullen Frost Bankers Inc. purchased a new position in shares of Altra Industrial Motion during the second quarter worth about $39,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Altra Industrial Motion in the second quarter worth approximately $57,000. Eagle Bay Advisors LLC bought a new position in Altra Industrial Motion in the second quarter worth $70,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of Altra Industrial Motion by 506.2% in the first quarter. Point72 Hong Kong Ltd now owns 1,279 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 1,068 shares during the last quarter.

Altra Industrial Motion Company Profile

Altra Industrial Motion Corp. engages in the designs, production, and marketing of electromechanical power transmission motion control. It operates through the Power Transmission Technologies; and Automation and Specialty segments. The Power Transmission Technologies segment focuses in the production of couplings, clutches, and brakes; electromagnetic clutches and brakes; and gears.

Read More: Commodities

Analyst Recommendations for Altra Industrial Motion (NASDAQ:AIMC)

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