Zacks Investment Research Downgrades Altra Industrial Motion (AIMC) to Hold
Altra Industrial Motion (NASDAQ:AIMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “In 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 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 $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. However, the company is exposed to risks arising from high debt levels, stiff competition, geopolitical issues as well as adverse foreign currency movements. Earnings estimates on the stock for both 2017 and 2018 remained stable in the last 60 days.”
AIMC has been the subject of a number of other reports. BMO Capital Markets reissued a “buy” rating and set a $53.00 price objective on shares of Altra Industrial Motion in a research report on Wednesday, September 6th. ValuEngine raised Altra Industrial Motion from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Sidoti downgraded Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Robert W. Baird reissued a “hold” rating and set a $48.00 price objective on shares of Altra Industrial Motion in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Altra Industrial Motion presently has an average rating of “Hold” and an average price target of $49.20.
Shares of Altra Industrial Motion (NASDAQ AIMC) traded up $0.10 on Tuesday, hitting $49.45. The company’s stock had a trading volume of 148,400 shares, compared to its average volume of 144,292. Altra Industrial Motion has a twelve month low of $35.20 and a twelve month high of $50.00. The firm has a market cap of $1,447.67, a P/E ratio of 35.07 and a beta of 1.66. The company has a quick ratio of 1.57, a current ratio of 2.69 and a debt-to-equity ratio of 0.77.
Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Friday, October 20th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $214.60 million during the quarter, compared to the consensus estimate of $210.79 million. Altra Industrial Motion had a return on equity of 16.30% and a net margin of 4.92%. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. equities analysts expect that Altra Industrial Motion will post 2.05 EPS for the current year.
In other news, Director Lipscomb S. Michael sold 25,000 shares of Altra Industrial Motion stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.34, for a total value of $1,208,500.00. Following the completion of the transaction, the director now owns 15,848 shares in the company, valued at approximately $766,092.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Craig Schuele sold 1,685 shares of Altra Industrial Motion stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $50.00, for a total value of $84,250.00. Following the completion of the transaction, the vice president now owns 71,201 shares of the company’s stock, valued at approximately $3,560,050. The disclosure for this sale can be found here. Insiders have sold a total of 26,785 shares of company stock valued at $1,297,549 over the last 90 days. 3.20% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in AIMC. Ameritas Investment Partners Inc. boosted its stake in shares of Altra Industrial Motion by 23.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock valued at $100,000 after buying an additional 479 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Altra Industrial Motion by 191.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 2,926 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Altra Industrial Motion by 848.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 4,156 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Altra Industrial Motion during the 3rd quarter worth about $203,000. Finally, Stifel Financial Corp raised its position in shares of Altra Industrial Motion by 2.5% during the 2nd quarter. Stifel Financial Corp now owns 5,953 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.
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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