Allient (NASDAQ:ALNT) Announces Quarterly Earnings Results

Allient (NASDAQ:ALNTGet Free Report) posted its earnings results on Wednesday. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19, FiscalAI reports. Allient had a net margin of 4.25% and a return on equity of 12.47%. The company had revenue of $153.77 million for the quarter, compared to analyst estimates of $145.68 million.

Allient Stock Performance

Allient stock traded down $1.31 during mid-day trading on Wednesday, hitting $93.25. 208,719 shares of the company’s stock traded hands, compared to its average volume of 218,981. The firm has a 50 day simple moving average of $89.42 and a two-hundred day simple moving average of $73.89. Allient has a fifty-two week low of $38.24 and a fifty-two week high of $104.65. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 65.21 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15.

Analyst Upgrades and Downgrades

ALNT has been the subject of several recent research reports. Jefferies Financial Group set a $80.00 price objective on Allient in a research report on Tuesday, May 26th. Weiss Ratings upgraded Allient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Roth Capital reaffirmed a “buy” rating and set a $70.00 price target on shares of Allient in a research note on Friday, May 8th. Finally, Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.83.

View Our Latest Analysis on Allient

Hedge Funds Weigh In On Allient

Institutional investors and hedge funds have recently modified their holdings of the stock. Jump Financial LLC acquired a new stake in shares of Allient during the 2nd quarter worth about $272,000. Quantbot Technologies LP acquired a new position in Allient in the 2nd quarter valued at about $247,000. CreativeOne Wealth LLC acquired a new stake in Allient during the fourth quarter worth approximately $226,000. EP Wealth Advisors LLC acquired a new stake in Allient during the fourth quarter worth approximately $219,000. Finally, Systematic Alpha Investments LLC bought a new stake in shares of Allient during the fourth quarter worth approximately $210,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

About Allient

(Get Free Report)

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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Earnings History for Allient (NASDAQ:ALNT)

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