In a report released today, Bryan Blair from Oppenheimer assigned a Buy rating to Altra Industrial Motion (AIMC), with a price target of $36.00. The company’s shares closed last Thursday at $34.12, close to its 52-week high of $38.43.
According to TipRanks.com, Blair is a 3-star analyst with an average return of 4.6% and a 53.5% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.
Currently, the analyst consensus on Altra Industrial Motion is a Moderate Buy with an average price target of $31.60, which is a -7.4% downside from current levels. In a report issued on July 16, BMO Capital also initiated coverage with a Buy rating on the stock with a $40.00 price target.
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The company has a one-year high of $38.43 and a one-year low of $12.00. Currently, Altra Industrial Motion has an average volume of 430.2K.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.
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