Altra Industrial Motion (NASDAQ:AIMC) Raised to “Hold” at Zacks Investment Research

Altra Industrial Motion (NASDAQ:AIMCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $37.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 0.95% from the stock’s current price.

According to Zacks, “Altra Industrial’s fourth-quarter 2021 earnings missed the Zacks Consensus Estimate by 10.7%, while revenues beat the same by 1.8%. The company is poised to benefit from diversified businesses, focus on lowering debts, a healthy liquidity position and shareholder-friendly policies. Its solid order backlog at the end of 2021, pricing actions, cross-selling activities and a recovering economy are other tailwinds. For 2022, organic sales are expected to increase 5-7% year over year.  However, in the past year, the company's shares underperformed the industry. High costs and expenses might affect its margins and profitability in the quarters ahead. Supply-chain issues and labor issues are concerning as well. Also, softness in renewable energy remains a woe. Risks related to its international exposure pose a concern for the company.”

Several other equities analysts have also commented on AIMC. StockNews.com began coverage on shares of Altra Industrial Motion in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Robert W. Baird dropped their price objective on shares of Altra Industrial Motion from $55.00 to $46.00 in a research report on Wednesday, March 9th. Finally, TheStreet downgraded shares of Altra Industrial Motion from a “b-” rating to a “c” rating in a research report on Wednesday, February 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $55.41.

NASDAQ:AIMC traded up $1.52 on Tuesday, hitting $36.65. The stock had a trading volume of 1,816 shares, compared to its average volume of 335,967. The company has a quick ratio of 2.16, a current ratio of 2.80 and a debt-to-equity ratio of 0.71. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 89.20, a PEG ratio of 0.66 and a beta of 2.30. The company has a fifty day moving average price of $40.53 and a two-hundred day moving average price of $48.73. Altra Industrial Motion has a 1-year low of $33.88 and a 1-year high of $68.07.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last issued its quarterly earnings data on Wednesday, February 16th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.08). Altra Industrial Motion had a return on equity of 10.40% and a net margin of 1.46%. The company had revenue of $469.80 million during the quarter, compared to analyst estimates of $461.39 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that Altra Industrial Motion will post 3.63 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its holdings in Altra Industrial Motion by 34.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,728,833 shares of the industrial products company’s stock valued at $151,041,000 after acquiring an additional 694,701 shares during the last quarter. Norges Bank acquired a new stake in Altra Industrial Motion in the 4th quarter valued at about $34,423,000. Wasatch Advisors Inc. lifted its holdings in Altra Industrial Motion by 9.0% in the 4th quarter. Wasatch Advisors Inc. now owns 6,663,776 shares of the industrial products company’s stock valued at $343,651,000 after acquiring an additional 550,635 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in Altra Industrial Motion by 50.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,310,957 shares of the industrial products company’s stock valued at $67,606,000 after acquiring an additional 441,336 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Altra Industrial Motion by 24.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,899,965 shares of the industrial products company’s stock valued at $105,162,000 after acquiring an additional 378,275 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

About Altra Industrial Motion (Get Rating)

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in various motion-related applications, and high-volume manufacturing and non-manufacturing processes. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

Read More

Get a free copy of the Zacks research report on Altra Industrial Motion (AIMC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.