Analysts predict that Altra Industrial Motion Corp (NASDAQ:AIMC) will announce $438.79 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Altra Industrial Motion’s earnings. The highest sales estimate is $443.90 million and the lowest is $433.68 million. Altra Industrial Motion posted sales of $228.48 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 92%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 24th.
According to Zacks, analysts expect that Altra Industrial Motion will report full year sales of $1.84 billion for the current financial year, with estimates ranging from $1.83 billion to $1.84 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.80 billion, with estimates ranging from $1.79 billion to $1.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Altra Industrial Motion.
Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). Altra Industrial Motion had a return on equity of 10.50% and a net margin of 4.34%. The company had revenue of $466.50 million for the quarter, compared to the consensus estimate of $488.01 million. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 96.6% on a year-over-year basis.
Several equities research analysts have recently issued reports on the stock. Robert W. Baird set a $46.00 price objective on shares of Altra Industrial Motion and gave the stock a “buy” rating in a research report on Friday, July 26th. ValuEngine raised shares of Altra Industrial Motion from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet downgraded shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a research report on Monday, August 12th. BidaskClub downgraded shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Sidoti lowered their price objective on shares of Altra Industrial Motion from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $46.25.
Shares of AIMC stock traded down $0.18 during trading hours on Friday, hitting $28.14. 258,066 shares of the company were exchanged, compared to its average volume of 486,495. The business has a 50 day moving average of $26.99 and a two-hundred day moving average of $31.05. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.89. Altra Industrial Motion has a 52 week low of $23.52 and a 52 week high of $38.15. The company has a market capitalization of $1.82 billion, a PE ratio of 9.84 and a beta of 1.94.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Tuesday, September 17th. Altra Industrial Motion’s dividend payout ratio (DPR) is currently 23.78%.
In related news, Director Larry Mcpherson sold 9,922 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $25.40, for a total value of $252,018.80. Following the completion of the transaction, the director now owns 9,608 shares of the company’s stock, valued at $244,043.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AIMC. First Trust Advisors LP bought a new position in Altra Industrial Motion in the first quarter valued at $434,000. Xact Kapitalforvaltning AB bought a new position in Altra Industrial Motion in the second quarter valued at $316,000. Diversified Trust Co bought a new position in Altra Industrial Motion in the second quarter valued at $325,000. Fox Run Management L.L.C. bought a new position in Altra Industrial Motion in the second quarter valued at $636,000. Finally, Commonwealth Equity Services LLC bought a new position in Altra Industrial Motion in the second quarter valued at $334,000.
About Altra Industrial Motion
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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