Allient (NASDAQ:ALNT – Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday. The firm currently has a $80.00 target price on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 26.24% from the company’s current price.
A number of other equities research analysts have also weighed in on ALNT. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Allient in a report on Friday, May 8th. Craig Hallum restated a “buy” rating and issued a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Weiss Ratings lowered shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a report on Tuesday. Finally, Jefferies Financial Group set a $80.00 price objective on shares of Allient in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.33.
View Our Latest Research Report on ALNT
Allient Price Performance
Allient (NASDAQ:ALNT – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The business had revenue of $138.92 million for the quarter, compared to analysts’ expectations of $138.42 million. On average, research analysts forecast that Allient will post 2.47 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Allient by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after buying an additional 26,438 shares during the last quarter. State Street Corp grew its position in shares of 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 last quarter. Geode Capital Management LLC grew its position in shares of 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 last quarter. Jennison Associates LLC grew its position in shares of Allient by 111.5% in the 1st 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 grew its position in shares of Allient by 20.5% in the 3rd 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. 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.
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