Allient (NASDAQ:ALNT) Price Target Raised to $69.00

Allient (NASDAQ:ALNT) had its price objective increased by Roth Mkm from $56.00 to $69.00 in a research report sent to investors on Monday morning,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

A number of other research firms have also recently commented on ALNT. Lake Street Capital started coverage on Allient in a research note on Wednesday, February 18th. They issued a “buy” rating and a $79.00 target price on the stock. Craig Hallum reiterated a “buy” rating and issued a $75.00 price target on shares of Allient in a research note on Monday, March 9th. Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Allient currently has an average rating of “Hold” and a consensus price target of $63.60.

Allient Stock Performance

Shares of ALNT opened at $61.25 on Monday. The company has a quick ratio of 2.08, a current ratio of 3.66 and a debt-to-equity ratio of 0.60. The stock has a market cap of $1.04 billion, a P/E ratio of 46.40 and a beta of 1.51. The business’s 50 day moving average price is $63.65 and its 200-day moving average price is $55.40. Allient has a 52 week low of $19.25 and a 52 week high of $70.00.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. The company had revenue of $143.35 million during the quarter, compared to analyst estimates of $133.33 million. Allient had a return on equity of 12.53% and a net margin of 3.97%. Equities research analysts anticipate that Allient will post 1.43 earnings per share for the current fiscal year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 20th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, March 20th. This represents a $0.12 annualized dividend and a yield of 0.2%. Allient’s dividend payout ratio is currently 9.09%.

Institutional Trading of Allient

A number of institutional investors have recently made changes to their positions in the stock. Nkcfo LLC lifted its position in Allient by 700.0% during the second quarter. Nkcfo LLC now owns 32,000 shares of the company’s stock valued at $1,162,000 after purchasing an additional 28,000 shares during the period. Principal Financial Group Inc. bought a new stake in Allient in the 3rd quarter worth approximately $647,000. Handelsbanken Fonder AB bought a new stake in Allient in the 3rd quarter worth approximately $5,888,000. Assenagon Asset Management S.A. purchased a new stake in Allient during the 3rd quarter valued at $495,000. Finally, Portolan Capital Management LLC purchased a new stake in Allient during the 3rd quarter valued at $11,530,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

About Allient

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.