Altra Industrial Motion (NASDAQ:AIMC) had its target price raised by KeyCorp from $43.00 to $48.00 in a research report report published on Wednesday morning, Anlyst Ratings reports. KeyCorp currently has an overweight rating on the industrial products company’s stock. KeyCorp also issued estimates for Altra Industrial Motion’s Q3 2020 earnings at $0.51 EPS, FY2020 earnings at $2.30 EPS and FY2021 earnings at $2.70 EPS.
AIMC has been the topic of several other research reports. Zacks Investment Research cut shares of Altra Industrial Motion from a buy rating to a hold rating and set a $43.00 price target on the stock. in a report on Friday, October 9th. BidaskClub lowered Altra Industrial Motion from a buy rating to a hold rating in a research report on Tuesday, October 13th. Rosenblatt Securities reaffirmed a hold rating on shares of Altra Industrial Motion in a research report on Wednesday, July 29th. Oppenheimer lifted their price target on Altra Industrial Motion from $36.00 to $42.00 and gave the stock an outperform rating in a research report on Monday, July 27th. Finally, ValuEngine raised Altra Industrial Motion from a sell rating to a hold rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $39.33.
Shares of Altra Industrial Motion stock opened at $40.82 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.56 and a current ratio of 2.27. Altra Industrial Motion has a 52-week low of $12.00 and a 52-week high of $43.17. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -83.31, a P/E/G ratio of 1.20 and a beta of 2.58. The company’s 50 day moving average price is $39.31 and its 200-day moving average price is $31.94.
Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Friday, July 24th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.26. Altra Industrial Motion had a negative net margin of 1.85% and a positive return on equity of 9.13%. The firm had revenue of $400.80 million for the quarter, compared to analysts’ expectations of $367.98 million. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue was down 14.1% on a year-over-year basis. As a group, equities research analysts forecast that Altra Industrial Motion will post 2.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were paid a $0.04 dividend. The ex-dividend date was Thursday, September 17th. This represents a $0.16 annualized dividend and a yield of 0.39%. Altra Industrial Motion’s payout ratio is 5.59%.
In other news, Director James H. Woodward, Jr. sold 3,527 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $35.98, for a total transaction of $126,901.46. Following the sale, the director now directly owns 15,410 shares of the company’s stock, valued at approximately $554,451.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lyle G. Ganske sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $42.00, for a total value of $210,000.00. Following the sale, the director now directly owns 22,875 shares in the company, valued at $960,750. The disclosure for this sale can be found here. Insiders sold a total of 12,287 shares of company stock valued at $491,400 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors Inc. raised its holdings in shares of Altra Industrial Motion by 4.9% during the 2nd quarter. Wasatch Advisors Inc. now owns 4,582,236 shares of the industrial products company’s stock worth $145,990,000 after acquiring an additional 214,044 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Altra Industrial Motion by 7.3% during the 2nd quarter. Macquarie Group Ltd. now owns 2,802,959 shares of the industrial products company’s stock worth $89,302,000 after acquiring an additional 190,621 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Altra Industrial Motion by 51.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,483,370 shares of the industrial products company’s stock worth $79,120,000 after acquiring an additional 843,865 shares in the last quarter. State Street Corp raised its holdings in shares of Altra Industrial Motion by 0.5% during the 1st quarter. State Street Corp now owns 1,316,960 shares of the industrial products company’s stock worth $23,254,000 after acquiring an additional 6,264 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Altra Industrial Motion by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 943,918 shares of the industrial products company’s stock valued at $16,508,000 after buying an additional 60,947 shares during the period.
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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