Altra Industrial Motion (AIMC) Initiated with a Hold at Rosenblatt Securities
In a report released today, Scott Graham from Rosenblatt Securities initiated coverage with a Hold rating on Altra Industrial Motion (AIMC) and a price target of $22.00. The company’s shares closed last Monday at $21.32.
According to TipRanks.com, Graham is a 4-star analyst with an average return of 6.5% and a 60.0% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings, Rockwell Automation, and AO Smith.
Currently, the analyst consensus on Altra Industrial Motion is a Moderate Buy with an average price target of $23.50.
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The company has a one-year high of $38.44 and a one-year low of $12.00. Currently, Altra Industrial Motion has an average volume of 519.6K.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AIMC in relation to earlier this year.
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Altra Industrial Motion Corp. engages in the designs, production, and marketing of electromechanical power transmission motion control. It operates through the Power Transmission Technologies; and Automation and Specialty segments. The Power Transmission Technologies segment focuses in the production of couplings, clutches, and brakes; electromagnetic clutches and brakes; and gears. The Automation and Specialty segment consists brands such as Kollmorgen, Portescap, Thomson, and Jacobs Vehicle Systems (JVS). The company was founded in 2004 and is headquartered in Braintree, MA.