Allient (NASDAQ:ALNT) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Allient (NASDAQ:ALNT) posted its quarterly earnings data on Wednesday. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10, Zacks reports. The company had revenue of $125.21 million during the quarter, compared to the consensus estimate of $124.28 million. Allient had a net margin of 3.35% and a return on equity of 13.04%. During the same period in the previous year, the firm posted $0.61 EPS.

Allient Trading Up 6.5 %

Shares of NASDAQ:ALNT traded up $1.34 on Thursday, reaching $21.82. 347,009 shares of the company traded hands, compared to its average volume of 98,420. The stock has a market capitalization of $367.45 million, a P/E ratio of 18.81 and a beta of 1.51. The business’s 50-day simple moving average is $19.01 and its 200 day simple moving average is $23.65. The company has a current ratio of 3.90, a quick ratio of 2.00 and a debt-to-equity ratio of 0.89. Allient has a 52 week low of $16.91 and a 52 week high of $36.33.

Analyst Ratings Changes

ALNT has been the subject of several research analyst reports. Craig Hallum dropped their price target on Allient from $41.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Roth Mkm dropped their target price on Allient from $39.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Northland Securities reduced their price target on shares of Allient from $35.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th.

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.