Robert W. Baird Boosts Altra Industrial Motion (NASDAQ:AIMC) Price Target to $51.00

Altra Industrial Motion (NASDAQ:AIMC – Get Rating) had its price target hoisted by stock analysts at Robert W. Baird from $46.00 to $51.00 in a note issued to investors on Friday, The Fly reports. Robert W. Baird’s target price would indicate a potential upside of 27.98% from the stock’s current price.

A number of other analysts have also issued reports on AIMC. TheStreet lowered Altra Industrial Motion from a “b-” rating to a “c” rating in a research note on Wednesday, February 16th. StockNews.com lowered Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research raised Altra Industrial Motion from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research note on Tuesday, April 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $56.41.

Shares of AIMC opened at $39.85 on Friday. The company has a current ratio of 2.80, a quick ratio of 2.16 and a debt-to-equity ratio of 0.71. Altra Industrial Motion has a 12 month low of $33.63 and a 12 month high of $68.07. The stock’s 50 day moving average is $38.79 and its two-hundred day moving average is $47.78. The firm has a market cap of $2.59 billion, a P/E ratio of 97.20, a PEG ratio of 0.68 and a beta of 2.30.

Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.20. The firm had revenue of $511.70 million for the quarter, compared to analyst estimates of $490.00 million. Altra Industrial Motion had a return on equity of 10.40% and a net margin of 1.46%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Equities research analysts forecast that Altra Industrial Motion will post 3.63 EPS for the current year.

A number of large investors have recently bought and sold shares of AIMC. First Horizon Advisors Inc. raised its holdings in shares of Altra Industrial Motion by 129.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 676 shares of the industrial products company’s stock valued at $35,000 after buying an additional 382 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Altra Industrial Motion in the 4th quarter valued at $49,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Altra Industrial Motion by 45.1% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,274 shares of the industrial products company’s stock valued at $66,000 after buying an additional 396 shares during the period. Pinebridge Investments L.P. purchased a new stake in shares of Altra Industrial Motion in the 4th quarter valued at $93,000. Finally, Associated Banc Corp acquired a new position in Altra Industrial Motion during the 4th quarter worth $205,000. Institutional investors own 98.61% of the company’s stock.

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).

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