Allient Inc. (NASDAQ:ALNT) Stock Has Average Price Target of $84.00 According to Analysts

Allient Inc. (NASDAQ:ALNT) has received an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $84.00.

Several brokerages have recently weighed in on ALNT. Zacks Research cut Allient from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Wall Street Zen lowered Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. JPMorgan Chase & Co. downgraded shares of Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Tuesday, October 13th. Finally, Weiss Ratings upgraded Allient from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th.

Insider Buying and Selling

In other news, CEO Richard Warzala sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares in the company, valued at $170,268,459.48. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Allient

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Allient in the 2nd quarter valued at about $128,774,000. Jennison Associates LLC increased its stake in shares of Allient by 111.5% during the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after purchasing an additional 186,316 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Allient in the 2nd quarter worth approximately $9,051,000. Deutsche Bank AG bought a new stake in shares of Allient in the 2nd quarter worth approximately $6,813,000. Finally, Sei Investments Co. raised its holdings in shares of Allient by 87.9% in the 1st quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock worth $3,275,000 after purchasing an additional 25,935 shares during the period. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Price Performance

Shares of ALNT stock opened at $87.66 on Monday. The firm has a fifty day moving average of $101.08 and a 200-day moving average of $89.72. Allient has a 12-month low of $44.30 and a 12-month high of $121.42. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 51.57 and a beta of 1.58. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19. The company had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. As a group, equities research analysts predict that Allient will post 2.72 earnings per share for the current fiscal year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s dividend payout ratio is currently 9.41%.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.