The stock of Altra Industrial Motion Corp (NASDAQ:AIMC) hit a new 52-week high and has $47.32 target or 35.00% above today’s $35.05 share price. The 6 months bullish chart indicates low risk for the $942.77M company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $47.32 price target is reached, the company will be worth $329.97 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 23,966 shares traded hands. Altra Industrial Motion Corp (NASDAQ:AIMC) has risen 24.10% since April 12, 2016 and is uptrending. It has outperformed by 19.12% the S&P500.
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 -21.54% below today’s ($35.05) 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 stock with “Outperform” rating in Tuesday, April 5 report.
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 Q2 2016. Its down 0.86, from 1.68 in 2016Q1. The ratio turned 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.
Keybank Natl Association Oh has invested 0.01% of its portfolio in Altra Industrial Motion Corp (NASDAQ:AIMC). Employees Retirement Association Of Colorado has 0.03% invested in the company for 142,000 shares. Voya Mgmt Lc reported 14,891 shares or 0% of all its holdings. Tiaa Cref Mngmt Ltd Liability Corp reported 76,784 shares or 0% of all its holdings. Acadian Asset Mngmt Ltd Liability Company holds 0.01% of its portfolio in Altra Industrial Motion Corp (NASDAQ:AIMC) for 47,667 shares. Van Den Berg Mngmt I Inc has 0.14% invested in the company for 39,155 shares. Lsv Asset last reported 0% of its portfolio in the stock. Moreover, Panagora Asset Mgmt Inc has 0.02% invested in Altra Industrial Motion Corp (NASDAQ:AIMC) for 176,350 shares. Eagle Boston accumulated 0.77% or 210,733 shares. California Employees Retirement System last reported 58,500 shares in the company. Susquehanna Int Group Inc Ltd Liability Partnership holds 0% of its portfolio in Altra Industrial Motion Corp (NASDAQ:AIMC) for 57,880 shares. Trexquant Inv Limited Partnership last reported 15,947 shares in the company. Goldman Sachs Grp has 0% invested in the company for 88,105 shares. Piermont Capital Mngmt holds 0.21% of its portfolio in Altra Industrial Motion Corp (NASDAQ:AIMC) for 29,935 shares. Invesco Ltd reported 41,546 shares or 0% of all its holdings.
Insider Transactions: Since June 8, 2016, the stock had 0 insider purchases, and 11 selling transactions for $2.55 million net activity. STORCH CHRISTIAN also sold $307,500 worth of Altra Industrial Motion Corp (NASDAQ:AIMC) shares. $75,000 worth of Altra Industrial Motion Corp (NASDAQ:AIMC) was sold by Schuele Craig on Friday, October 21. DEEGAN GLENN E. also sold $72,523 worth of Altra Industrial Motion Corp (NASDAQ:AIMC) shares. 5,000 Altra Industrial Motion Corp (NASDAQ:AIMC) shares with value of $143,165 were sold by Ganske Lyle G.. On Tuesday, July 12 Ferris Gerald P sold $266,800 worth of the stock or 9,200 shares. Another trade for 8,847 shares valued at $250,691 was sold by WOODWARD JAMES H JR. $758,695 worth of shares were sold by Christenson Carl R on Thursday, August 11.
More news for Altra Industrial Motion Corp (NASDAQ:AIMC) were recently published by: Marketwatch.com, which released: “Altra Industrial Motion Corp.” on December 09, 2010. Globenewswire.com‘s article titled: “Altra Industrial Motion Corp. to Host Conference Call on Third Quarter 2016 …” and published on October 11, 2016 is yet another important article.
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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