JPMorgan Chase & Co. Raises Allient (NASDAQ:ALNT) Price Target to $120.00

Allient (NASDAQ:ALNT) had its price objective upped by JPMorgan Chase & Co. from $95.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.51% from the stock’s previous close.

ALNT has been the subject of a number of other reports. Macquarie Infrastructure set a $80.00 target price on Allient in a research note on Tuesday, May 26th. Weiss Ratings raised shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a report on Tuesday, May 26th. Finally, Roth Capital restated a “buy” rating and set a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Allient Price Performance

Shares of ALNT stock traded up $0.41 during trading hours on Friday, reaching $111.62. The company had a trading volume of 125,585 shares, compared to its average volume of 221,415. Allient has a 12-month low of $40.49 and a 12-month high of $117.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 65.29 and a beta of 1.61. The stock has a fifty day moving average of $90.50 and a 200-day moving average of $74.46.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. The firm had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.69% and a net margin of 4.98%. On average, equities analysts anticipate that Allient will post 2.47 earnings per share for the current year.

Institutional Investors Weigh In On Allient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALNT. Vanguard Group Inc. grew its holdings in shares of Allient by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock worth $54,355,000 after purchasing an additional 26,438 shares during the period. State Street Corp raised its holdings in Allient by 32.5% in the 4th quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after buying an additional 96,264 shares during the period. Geode Capital Management LLC raised its holdings in Allient by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after buying an additional 10,173 shares during the period. Jennison Associates LLC lifted its position in Allient by 111.5% in the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock valued at $20,884,000 after buying an additional 186,316 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in 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 during the last quarter. Institutional investors and hedge funds 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.