Altra Industrial Motion Corp. (AIMC) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) from a strong-buy rating to a hold rating in a report published on Monday morning.

According to Zacks, “Over the last one month, Altra Industrial's shares outperformed the Zacks categorized Machinery General Industrial industry. Also, we believe that the company holds solid potential for organic and inorganic growth in the long run. Also, Stromag acquisition will start yielding earnings benefits in 2017. In addition, the company is progressing well on its restructuring and cost-saving strategies.  Rewarding shareholders with dividends and share buybacks remain a priority.  However, the company is exposed to risks arising from stiff competition, high costs, and forex woes. For 2016 (results not yet released), the company anticipates soft conditions to persist in its end-markets. The company has narrowed its guidance for 2016, with sales now expected within $705-$715 million.”

AIMC has been the topic of a number of other research reports. BMO Capital Markets reiterated an outperform rating and issued a $45.00 target price on shares of Altra Industrial Motion Corp. in a report on Friday, December 16th. TheStreet upgraded Altra Industrial Motion Corp. from a hold rating to a buy rating in a research note on Wednesday, November 9th. Jefferies Group LLC boosted their price objective on Altra Industrial Motion Corp. from $26.00 to $32.00 and gave the stock a hold rating in a research note on Friday, December 16th. Finally, Stephens upgraded Altra Industrial Motion Corp. from an equal weight rating to an overweight rating in a research note on Monday, October 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Altra Industrial Motion Corp. has an average rating of Buy and a consensus price target of $40.00.

Altra Industrial Motion Corp. (NASDAQ:AIMC) opened at 39.85 on Monday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 34.68 and a beta of 1.52. Altra Industrial Motion Corp. has a 52 week low of $21.39 and a 52 week high of $40.25. The stock’s 50 day moving average price is $37.67 and its 200 day moving average price is $32.53.

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In other news, VP Gerald P. Ferris sold 10,000 shares of Altra Industrial Motion Corp. stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the sale, the vice president now directly owns 35,500 shares of the company’s stock, valued at $1,278,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Gerald P. Ferris sold 15,000 shares of Altra Industrial Motion Corp. stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $35.40, for a total value of $531,000.00. Following the sale, the vice president now directly owns 46,183 shares in the company, valued at $1,634,878.20. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. RK Capital Management LLC acquired a new stake in shares of Altra Industrial Motion Corp. during the fourth quarter worth about $10,129,000. Silvercrest Asset Management Group LLC raised its stake in shares of Altra Industrial Motion Corp. by 12.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,492,878 shares of the company’s stock worth $40,278,000 after buying an additional 165,048 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Altra Industrial Motion Corp. during the third quarter worth about $4,570,000. Frontier Capital Management Co. LLC raised its stake in shares of Altra Industrial Motion Corp. by 10.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,244,844 shares of the company’s stock worth $45,935,000 after buying an additional 120,492 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Altra Industrial Motion Corp. during the fourth quarter worth about $3,621,000.

About Altra Industrial Motion Corp.

Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. The Company’s products are used to control and transmit power and torque in virtually any industrial application involving movement.

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