Altra Industrial Motion Corp (NASDAQ:AIMC) – Equities research analysts at Oppenheimer cut their Q2 2020 earnings per share (EPS) estimates for Altra Industrial Motion in a report released on Sunday, July 5th. Oppenheimer analyst B. Blair now forecasts that the industrial products company will earn $0.31 per share for the quarter, down from their prior forecast of $0.32. Oppenheimer has a “Outperform” rating and a $34.00 price target on the stock. Oppenheimer also issued estimates for Altra Industrial Motion’s Q4 2020 earnings at $0.51 EPS and FY2021 earnings at $2.35 EPS.
Several other equities analysts have also issued reports on AIMC. ValuEngine upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Needham & Company LLC initiated coverage on shares of Altra Industrial Motion in a report on Tuesday, April 28th. They issued a “neutral” rating and a $22.00 target price on the stock. Rosenblatt Securities upped their price target on shares of Altra Industrial Motion from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, June 15th. Zacks Investment Research raised shares of Altra Industrial Motion from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a report on Friday, June 5th. Finally, BidaskClub cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Altra Industrial Motion presently has an average rating of “Hold” and a consensus target price of $35.14.
AIMC opened at $30.47 on Tuesday. Altra Industrial Motion has a 12 month low of $12.00 and a 12 month high of $38.43. The company has a current ratio of 2.48, a quick ratio of 1.80 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $31.08 and its 200-day moving average price is $28.81. The company has a market cap of $2.02 billion, a P/E ratio of -80.18, a P/E/G ratio of 1.12 and a beta of 2.54.
Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Thursday, April 30th. The industrial products company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $434.20 million for the quarter, compared to analysts’ expectations of $418.48 million. Altra Industrial Motion had a negative net margin of 1.38% and a positive return on equity of 9.41%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS.
Several hedge funds have recently bought and sold shares of AIMC. Chevy Chase Trust Holdings Inc. bought a new position in shares of Altra Industrial Motion in the 4th quarter worth approximately $27,000. Americana Partners LLC bought a new position in Altra Industrial Motion in the fourth quarter worth $35,000. First Bank & Trust raised its holdings in Altra Industrial Motion by 180.0% in the first quarter. First Bank & Trust now owns 2,394 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 1,539 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Altra Industrial Motion by 18.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,933 shares of the industrial products company’s stock valued at $86,000 after buying an additional 776 shares during the period. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Altra Industrial Motion during the 4th quarter valued at $180,000. Hedge funds and other institutional investors own 99.33% of the company’s stock.
In other news, CFO Christian Storch sold 8,922 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $28.40, for a total value of $253,384.80. Following the completion of the sale, the chief financial officer now directly owns 16,468 shares of the company’s stock, valued at approximately $467,691.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Thursday, June 18th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, June 17th. Altra Industrial Motion’s payout ratio is currently 5.59%.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.
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