Allient (NASDAQ:ALNT – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.
A number of other brokerages have also weighed in on ALNT. Weiss Ratings lowered Allient from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. JPMorgan Chase & Co. downgraded shares of Allient from an “overweight” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, October 13th. Finally, Zacks Research cut Allient from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.
View Our Latest Analysis on Allient
Allient Price Performance
Shares of ALNT stock opened at $81.32 on Friday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 34.50 and a beta of 1.62. The firm has a fifty day moving average of $98.64 and a 200-day moving average of $82.89. 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 has a 12-month low of $48.12 and a 12-month high of $121.42.
Allient (NASDAQ:ALNT – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.74 by $0.33. Allient had a net margin of 4.98% and a return on equity of 13.55%. The business had revenue of $164.40 million for the quarter, compared to the consensus estimate of $155.25 million. On average, equities research analysts forecast that Allient will post 2.72 earnings per share for the current year.
Insider Activity at Allient
In other Allient news, CEO Richard Warzala sold 70,000 shares of Allient stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.00% of the company’s stock.
Hedge Funds Weigh In On Allient
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Allient in the 2nd quarter valued at about $128,774,000. Jennison Associates LLC increased its holdings 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 purchasing an additional 186,316 shares during the period. Bank of New York Mellon Corp acquired a new stake in Allient in the 2nd quarter worth approximately $9,051,000. Deutsche Bank AG bought a new position in Allient in the second quarter worth $6,813,000. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Allient by 16.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 59,059 shares of the company’s stock worth $6,591,000 after purchasing an additional 8,534 shares in the last quarter. Hedge funds and other institutional investors own 61.57% of the company’s stock.
About Allient
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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