Robert W. Baird Boosts Altra Industrial Motion (NASDAQ:AIMC) Price Target to $48.00

Altra Industrial Motion (NASDAQ:AIMCGet Rating) had its price target upped by Robert W. Baird from $44.00 to $48.00 in a research note issued to investors on Friday, The Fly reports.

Separately, StockNews.com raised Altra Industrial Motion from a hold rating to a buy rating in a research note on Friday, May 6th.

Altra Industrial Motion Price Performance

AIMC stock opened at $41.73 on Friday. The business has a fifty day moving average of $37.04 and a two-hundred day moving average of $39.76. The company has a quick ratio of 2.15, a current ratio of 2.90 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 83.46, a price-to-earnings-growth ratio of 0.77 and a beta of 2.07. Altra Industrial Motion has a 52-week low of $32.18 and a 52-week high of $64.24.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last posted its earnings results on Thursday, July 28th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. The company had revenue of $498.10 million during the quarter, compared to analysts’ expectations of $475.71 million. Altra Industrial Motion had a return on equity of 10.54% and a net margin of 1.72%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, research analysts anticipate that Altra Industrial Motion will post 3.27 earnings per share for the current year.

Altra Industrial Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Friday, September 16th will be paid a $0.09 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.86%. Altra Industrial Motion’s payout ratio is presently 72.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. lifted its stake in shares of Altra Industrial Motion by 9.0% during the 4th quarter. Wasatch Advisors Inc. now owns 6,663,776 shares of the industrial products company’s stock worth $343,651,000 after purchasing an additional 550,635 shares during the period. Vanguard Group Inc. grew its position in Altra Industrial Motion by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,982,034 shares of the industrial products company’s stock worth $232,880,000 after buying an additional 67,144 shares during the last quarter. Boston Partners grew its position in Altra Industrial Motion by 3.7% in the first quarter. Boston Partners now owns 3,463,937 shares of the industrial products company’s stock worth $134,661,000 after buying an additional 123,852 shares during the last quarter. Earnest Partners LLC grew its position in Altra Industrial Motion by 26.8% in the first quarter. Earnest Partners LLC now owns 3,434,437 shares of the industrial products company’s stock worth $133,703,000 after buying an additional 726,188 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Altra Industrial Motion by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,774,408 shares of the industrial products company’s stock valued at $143,076,000 after buying an additional 45,575 shares during the period.

Altra Industrial Motion Company Profile

(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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