Altra Industrial Motion downgraded by Loop Capital with a new price target
$AIMC
Industrial Machinery/Components
Industrials
Loop Capital downgraded Altra Industrial Motion from Buy to Hold and set a new price target of $62.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/3/2023 | $62.00 | Buy → Hold | Loop Capital |
| 12/21/2022 | $50.00 → $62.00 | Outperform → Market Perform | BMO Capital Markets |
| 11/1/2022 | $62.00 | Outperform → Neutral | Robert W. Baird |
| 8/26/2022 | $58.00 | Buy | Loop Capital |
| 7/27/2021 | $70.00 → $73.00 | Outperform | BMO Capital |
| 7/26/2021 | $64.00 → $65.00 | Neutral | Rosenblatt |
Positions Regal Rexnord For Accelerated Growth, Higher Margins, Stronger Free Cash Flow And Higher ROIC By Enhancing Its Value Proposition With Key Stakeholders Transforms Regal Rexnord's Automation Portfolio Into A Meaningful, Global Automation Solutions Provider, With Over 70% Of Its Sales Into Markets With Secular Growth TailwindsCombines Complementary Power Transmission Portfolios To Deliver Enhanced Industrial Powertrain Solutions For CustomersPortfolio To Be Comprised Of Four Segments: Industrial Powertrain Solutions ("IPS", ~37% Of Pro Forma 2022 Sales), Power Efficiency Solutions ("PES", ~31%), Automation & Motion Control ("AMC", ~24%) And Industrial Systems ("IS", ~8%)Unites Aligned
BELOIT, Wis. and BRAINTREE, Mass., March 22, 2023 /PRNewswire/ -- Regal Rexnord Corporation (NYSE:RRX) ("Regal Rexnord") and Altra Industrial Motion Corp. (NASDAQ:AIMC) ("Altra") jointly announced today that they have received all required regulatory approvals to complete the previously announced acquisition of all of the issued and outstanding shares of common stock of Altra, whereby a wholly owned subsidiary of Regal Rexnord will be merged with and into Altra, with Altra surviving the merger as a wholly owned subsidiary of Regal Rexnord (the "Transaction"). The closing of the Transaction is expected to occur on or around March 27, 2023, subject to the satisfaction or waiver of the remainin
BELOIT, Wis. and BRAINTREE, Mass., March 22, 2023 (GLOBE NEWSWIRE) -- Regal Rexnord Corporation (NYSE:RRX) ("Regal Rexnord") and Altra Industrial Motion Corp. (NASDAQ:AIMC) ("Altra") jointly announced today that they have received all required regulatory approvals to complete the previously announced acquisition of all of the issued and outstanding shares of common stock of Altra, whereby a wholly owned subsidiary of Regal Rexnord will be merged with and into Altra, with Altra surviving the merger as a wholly owned subsidiary of Regal Rexnord (the "Transaction"). The closing of the Transaction is expected to occur on or around March 27, 2023, subject to the satisfaction or waiver of the r