Allient (NASDAQ:ALNT – Get Free Report) released its quarterly earnings data on Wednesday. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.74 by $0.33, FiscalAI reports. The business had revenue of $164.40 million during the quarter, compared to analyst estimates of $155.25 million. Allient had a net margin of 4.98% and a return on equity of 13.55%.
Allient Stock Down 9.6%
Allient stock traded down $8.46 during midday trading on Wednesday, reaching $79.56. The company’s stock had a trading volume of 405,341 shares, compared to its average volume of 207,632. The business has a 50-day simple moving average of $99.28 and a 200-day simple moving average of $82.72. 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 company has a market cap of $1.35 billion, a P/E ratio of 36.07 and a beta of 1.62. Allient has a fifty-two week low of $44.30 and a fifty-two week high of $121.42.
Insider Buying and Selling at Allient
In other news, CEO Richard Warzala sold 70,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the sale, the chief executive officer directly owned 1,499,106 shares of the company’s stock, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.00% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Zacks Research lowered Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Weiss Ratings downgraded Allient from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, October 26th. JPMorgan Chase & Co. cut Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, October 13th. Finally, Wall Street Zen downgraded Allient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Allient presently has an average rating of “Moderate Buy” and a consensus target price of $84.00.
View Our Latest Analysis on Allient
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.
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