Noteworthy Price Action: What’s Ahead for Altra Industrial Motion Corp After Reaching 52-Week High?

Noteworthy Price Action: What's Ahead for Altra Industrial Motion Corp After Reaching 52 Week High?

The stock of Altra Industrial Motion Corp (NASDAQ:AIMC) hit a new 52-week high and has $48.05 target or 64.00% above today’s $29.30 share price. The 8 months bullish chart indicates low risk for the $761.63 million company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $48.05 price target is reached, the company will be worth $487.44 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 16,627 shares traded hands. Altra Industrial Motion Corp (NASDAQ:AIMC) has risen 11.54% since March 16, 2016 and is uptrending. It has outperformed by 5.99% the S&P500.

Analysts await Altra Industrial Motion Corp (NASDAQ:AIMC) to report earnings on October, 28. They expect $0.35 EPS, down 18.60% or $0.08 from last year’s $0.43 per share. AIMC’s profit will be $9.10 million for 20.93 P/E if the $0.35 EPS becomes a reality. After $0.42 actual EPS reported by Altra Industrial Motion Corp for the previous quarter, Wall Street now forecasts -16.67% negative EPS growth.

Altra Industrial Motion Corp (NASDAQ:AIMC) Ratings Coverage

Out of 2 analysts covering Altra Holdings (NASDAQ:AIMC), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $32 is the highest target while $23 is the lowest. The $27.50 average target is -6.14% below today’s ($29.3) stock price. Altra Holdings has been the topic of 3 analyst reports since February 4, 2016 according to StockzIntelligence Inc. BMO Capital Markets initiated the shares of AIMC in a report on Tuesday, April 5 with “Outperform” rating.

According to Zacks Investment Research, “Altra Industrial Motion Corp. is a designer, producer and marketer of electromechanical power transmission products. The Company’s product portfolio includes industrial clutches and brakes, enclosed gear drives, open gearing, couplings, engineered bearing assemblies, linear components and other related products. Its brand include Ameridrives Couplings, Bauer Gear Motor, Bibby Turboflex, Boston Gear, Delroyd Worm Gear, Formsprag Clutch, Guardian Couplings, Huco, Industrial Clutch, Inertia Dynamics, Kilian Manufacturing, Lamiflex Couplings, Marland Clutch, Matrix, Nuttall Gear, Stieber Clutch, Svendborg Brakes, TB Wood’s, Twiflex, Warner Electric, Warner Linear and Wichita Clutch. Altra Industrial Motion Corp., formerly known as Altra Holdings, Inc., is headquartered in Braintree, Massachusetts.”

Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.86, from 1.68 in 2016Q1. The ratio is negative, as 13 funds sold all Altra Industrial Motion Corp shares owned while 44 reduced positions. 11 funds bought stakes while 36 increased positions. They now own 26.41 million shares or 5.84% less from 28.05 million shares in 2016Q1.
Nordea Invest Mngmt has invested 0% of its portfolio in Altra Industrial Motion Corp (NASDAQ:AIMC). Pnc Fincl Svcs Grp owns 6,300 shares or 0% of their US portfolio. Pub Employees Retirement Association Of Colorado accumulated 142,000 shares or 0.03% of the stock. Moreover, Thompson Siegel And Walmsley Ltd Liability Corporation has 0% invested in Altra Industrial Motion Corp (NASDAQ:AIMC) for 500 shares. Blackrock Fund Advsr last reported 0% of its portfolio in the stock. Moreover, Bnp Paribas Arbitrage Sa has 0% invested in Altra Industrial Motion Corp (NASDAQ:AIMC) for 1,365 shares. Wedge L Ltd Partnership Nc holds 0.14% or 501,109 shares in its portfolio. Kennedy last reported 0.1% of its portfolio in the stock. Ladenburg Thalmann Fin Svcs Inc owns 497 shares or 0% of their US portfolio. The Illinois-based Peak6 Invests Limited Partnership has invested 0% in Altra Industrial Motion Corp (NASDAQ:AIMC). Moreover, Dimensional Fund Advsr Lp has 0.02% invested in Altra Industrial Motion Corp (NASDAQ:AIMC) for 1.37 million shares. Piermont Mgmt has 29,935 shares for 0.21% of their US portfolio. Wells Fargo & Co Mn holds 586,947 shares or 0.01% of its portfolio. Wellington Mgmt Llp has 0.02% invested in the company for 3.28 million shares. D E Shaw & Incorporated has invested 0% of its portfolio in Altra Industrial Motion Corp (NASDAQ:AIMC).

Insider Transactions: Since April 29, 2016, the stock had 0 insider buys, and 10 insider sales for $2.92 million net activity. $143,165 worth of Altra Industrial Motion Corp (NASDAQ:AIMC) was sold by Ganske Lyle G.. On Wednesday, May 4 the insider DEEGAN GLENN E. sold $85,170. Shares for $758,695 were sold by Christenson Carl R on Thursday, August 11. $23,200 worth of shares were sold by Ferris Gerald P on Thursday, June 9. $249,762 worth of Altra Industrial Motion Corp (NASDAQ:AIMC) shares were sold by WOODWARD JAMES H JR.

More important recent Altra Industrial Motion Corp (NASDAQ:AIMC) news were published by: Marketwatch.com which released: “Altra Industrial Motion Corp.” on December 09, 2010, also Globenewswire.com published article titled: “Altra Industrial Motion Corp. to Host Conference Call on Third Quarter 2016 …”, Globenewswire.com published: “Altra Industrial Motion Corp. Announces Acquisition of Guardian Industries” on July 01, 2014. More interesting news about Altra Industrial Motion Corp (NASDAQ:AIMC) was released by: Equitiesfocus.com and their article: “Altra Industrial Motion Corp. (NASDAQ:AIMC) Per-Share Dividend At $0.15” with publication date: October 17, 2016.

AIMC Company Profile

Altra Industrial Motion Corp., incorporated on October 20, 2004, is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Firm operates through three divisions: 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. The Company’s product portfolio includes clutches and brakes, couplings and gearing, and power transmission components. The Company’s products are used in a range of manufacturing processes. The Company’s products are also used in non-manufacturing applications, such as clutches and brakes for elevators, and residential and commercial lawnmowers. The Company’s products serve a range of end markets, including energy, general industrial, material handling, mining, transportation, and turf and garden.

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