Oppenheimer Initiates a Buy Rating on Altra Industrial Motion (AIMC)

Altra Industrial Motion (AIMCResearch Report) received a Buy rating and a $34.00 price target from Oppenheimer analyst Bryan Blair today. The company’s shares closed last Wednesday at $28.32.

According to TipRanks.com, Blair is a 2-star analyst with an average return of 0.2% and a 42.1% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Altra Industrial Motion with a $23.33 average price target.

See today’s analyst top recommended stocks >>

Based on Altra Industrial Motion’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $434 million and GAAP net loss of $117 million. In comparison, last year the company earned revenue of $483 million and had a net profit of $35.2 million.

Based on the recent corporate insider activity of 47 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.