Oppenheimer Believes Altra Industrial Motion (NASDAQ: AIMC) Still Has Room to Grow

Oppenheimer analyst Bryan Blair assigned a Buy rating to Altra Industrial Motion (AIMCResearch Report) yesterday and set a price target of $67.00. The company’s shares closed last Tuesday at $62.88, close to its 52-week high of $66.38.

According to TipRanks.com, Blair is a 5-star analyst with an average return of 27.0% and a 74.6% 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 Strong Buy with an average price target of $68.40, a 9.6% upside from current levels. In a report issued on April 26, Sidoti also maintained a Buy rating on the stock with a $75.00 price target.

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Based on Altra Industrial Motion’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $472 million and net profit of $39.2 million. In comparison, last year the company earned revenue of $434 million and had a GAAP net loss of $117 million.

Based on the recent corporate insider activity of 57 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.