Allient (NASDAQ:ALNT) Stock Rating Lowered by JPMorgan Chase & Co.

Allient (NASDAQ:ALNT – Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat reports. They presently have a $120.00 target price on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.80% from the company’s previous close.

ALNT has been the topic of a number of other reports. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday. Wall Street Zen lowered shares of Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. Finally, Zacks Research cut shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Allient presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Check Out Our Latest Research Report on ALNT

Allient Stock Performance

Shares of Allient stock opened at $106.38 on Tuesday. 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 stock’s fifty day moving average is $103.52 and its two-hundred day moving average is $87.60. Allient has a 52 week low of $44.30 and a 52 week high of $121.42. The company has a market capitalization of $1.81 billion, a PE ratio of 62.58 and a beta of 1.58.

Allient (NASDAQ:ALNT – Get Free Report) last released its earnings results 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 business had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. As a group, analysts expect that Allient will post 2.73 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Allient

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Allient in the second quarter valued at approximately $128,774,000. Jennison Associates LLC raised its stake in shares of Allient by 111.5% in the first 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 acquired a new position in Allient during the second quarter valued at $9,051,000. Deutsche Bank AG purchased a new stake in shares of Allient in the second quarter worth about $6,813,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Allient during the 2nd quarter worth approximately $3,992,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Company Profile

(Get Free Report)

Allient Inc (NASDAQ: ALNT) is a global manufacturer of precision and specialty motion-control products. The company designs and produces motors, motion controllers, drives, servo systems, electromechanical assemblies, and related components used to control movement and power in complex equipment.

Allient serves a range of markets, including medical equipment, aerospace and defense, industrial automation, robotics, vehicle systems, and other demanding applications. Its products are used in areas such as surgical and diagnostic equipment, factory automation, unmanned systems, and precision machinery.

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Analyst Recommendations for Allient (NASDAQ:ALNT)

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