Allient (NASDAQ:ALNT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allient (NASDAQ:ALNT) from a hold rating to a strong-buy rating in a report released on Saturday morning.

Several other analysts have also commented on ALNT. JPMorgan Chase & Co. increased their price objective on Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group set a $80.00 target price on Allient in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 target price on Allient in a research report on Tuesday, May 26th. Roth Capital reiterated a “buy” rating and issued a $70.00 price target on shares of Allient in a research note on Friday, May 8th. Finally, Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Allient has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Allient Trading Up 0.2%

NASDAQ ALNT opened at $113.03 on Friday. Allient has a 52 week low of $40.49 and a 52 week high of $117.48. The company has a 50 day moving average price of $91.78 and a 200 day moving average price of $75.19. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.92 billion, a PE ratio of 66.49 and a beta of 1.61.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.19. Allient had a net margin of 4.98% and a return on equity of 13.55%. The company had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. As a group, sell-side analysts forecast that Allient will post 2.47 EPS for the current fiscal year.

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 19th. Allient’s payout ratio is presently 9.41%.

Institutional Investors Weigh In On Allient

A number of large investors have recently made changes to their positions in ALNT. Meeder Asset Management Inc. purchased a new position in Allient in the 2nd quarter worth $25,000. Arax Advisory Partners grew its stake in Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares during the period. Advisory Services Network LLC acquired a new position in shares of Allient in the third quarter valued at about $34,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Allient by 22.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after purchasing an additional 209 shares during the period. 61.57% of the stock is owned by hedge funds and other institutional investors.

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.