Allient (NASDAQ:ALNT) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Allient (NASDAQ:ALNTGet Free Report) issued its quarterly earnings data on Thursday. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09, Zacks reports. Allient had a return on equity of 11.49% and a net margin of 3.50%.The firm had revenue of $143.35 million during the quarter, compared to analysts’ expectations of $133.33 million.

Allient Stock Performance

Shares of NASDAQ ALNT traded up $3.03 during mid-day trading on Friday, hitting $65.10. The stock had a trading volume of 504,994 shares, compared to its average volume of 161,984. The company has a 50 day moving average of $62.25 and a two-hundred day moving average of $54.22. Allient has a twelve month low of $19.25 and a twelve month high of $70.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. The firm has a market cap of $1.10 billion, a PE ratio of 58.13 and a beta of 1.51.

Allient News Roundup

Here are the key news stories impacting Allient this week:

Analysts Set New Price Targets

Several research firms have commented on ALNT. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Roth Mkm increased their target price on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Lake Street Capital started coverage on shares of Allient in a research note on Wednesday, February 18th. They issued a “buy” rating and a $79.00 target price for the company. Finally, Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Allient presently has an average rating of “Hold” and a consensus target price of $57.50.

View Our Latest Analysis on ALNT

Institutional Trading of Allient

Several large investors have recently made changes to their positions in ALNT. Vanguard Group Inc. increased its stake in shares of Allient by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 984,815 shares of the company’s stock valued at $44,070,000 after purchasing an additional 66,552 shares in the last quarter. State Street Corp grew its holdings in Allient by 32.5% in the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after purchasing an additional 96,264 shares during the period. Geode Capital Management LLC grew its holdings in Allient by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after purchasing an additional 10,173 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Allient by 20.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock valued at $13,009,000 after buying an additional 49,384 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Allient by 1,291.3% during the 3rd quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock worth $6,883,000 after buying an additional 142,763 shares during the period. 61.57% of the stock is owned by hedge funds and other institutional investors.

About Allient

(Get Free Report)

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.

See Also

Earnings History for Allient (NASDAQ:ALNT)

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