FAST - Why Shares of Altra Industrial Motion Surged 10% in December
Shares of motion control motor and power transmission company Altra Industrial Motion (NASDAQ: AIMC) rose 10.2% in December, according to data from S&P Global Market Intelligence. It's not so much that the company itself delivered, or was the recipient of, any positive stock-specific news. However, there is a growing sense of optimism -- supported by some data points and company results and guidance -- that the industrial sector could be set to trough sometime in the middle of 2020 and trend upward from then.
Bears and bulls are likely to have a big fight over Altra Industrial Motion stock in 2020. Image source: Getty Images.
Altra is interesting because its valuation is so cheap. The stock currently trades at just 13.4 times analyst earnings projections for 2020. Merely meeting earnings expectations could lead to a stock price appreciation.