Altra Industrial Motion Corp. (NASDAQ:AIMC) shares have more than 11.56 percent upside potential from the existing levels. This is based on the revised price target of Rosenblatt Securities at $ 50.00 on the stock. Incidentally, the brokerage raised its price objective by $ 8 from its earlier level of $ 42.00. However, Rosenblatt Securities has maintained its Neutral rating on the stock, Benzinga reported.
Shares of Altra Industrial Motion Corp. traded up $ 4.37 or 10.80 percent on Friday, reaching $ 44.82 with volume of 890.90 thousand shares. Altra Industrial Motion Corp. has traded high as $ 45.03 and has cracked $ 41.30 on the downward trend According to the previous trading day, closing price of $ 44.82, representing a 237.08 % increase from the 52 week low of $ 12.00 and a 10.17 % decrease over the 52 week high of $ 45.03.
With respect to the key metrics, Altra Industrial Motion Corp. stock has advanced $ 11.51 or 35.00 percent, reaching $ 33.31 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 5.43 or 14.00 percent, before arriving at $ 39.39 during the SMA50-day period.
Altra Industrial Motion Corp. recently reported third quarter financial results on October 23, 2020, before market open, the Braintree based company unfold income for the third quarter of $ 0.59 per share, from the revenue of $ 437.80 million, On adjusted basis, AIMC reported income for the quarter of $ 0.87 per share. The quarterly earnings boosted 47.50 percent while revenues declined 1.15 percent compared with the same quarter last year. The consensus estimates are income of $ 0.46 per share from $ 393.82 million in revenue. The bottom line results beat street analysts by $ 0.41 or 89.13 percent, at the same time, top line results outshined analysts by $ 43.98 million or 11.17 percent.
Moving ahead, the analysts surveyed by Thomson Reuters are predicting, Altra Industrial Motion Corp. to report 3Q20 income of $ 0.46 per share from revenue of $ 393.82 million. For the full year, analysts anticipate top line of $ 1633.98 million, while looking forward to income of $ 2.25 per share bottom line.
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.