Allient (NASDAQ:ALNT) Posts Earnings Results, Beats Expectations By $0.10 EPS

Allient (NASDAQ:ALNT) released its quarterly earnings data on Wednesday. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10, Zacks reports. Allient had a net margin of 3.35% and a return on equity of 13.04%. The firm had revenue of $125.21 million during the quarter, compared to analysts’ expectations of $124.28 million. During the same period in the previous year, the company earned $0.61 earnings per share.

Allient Stock Performance

Shares of ALNT stock traded up $1.34 during mid-day trading on Thursday, reaching $21.82. 347,009 shares of the company’s stock traded hands, compared to its average volume of 98,420. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.00 and a current ratio of 3.90. The firm has a market capitalization of $367.45 million, a PE ratio of 18.81 and a beta of 1.51. Allient has a 12 month low of $16.91 and a 12 month high of $36.33. The firm has a 50 day moving average price of $19.01 and a two-hundred day moving average price of $23.65.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALNT shares. Northland Securities decreased their target price on shares of Allient from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Roth Mkm reduced their price objective on Allient from $39.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Craig Hallum lowered their target price on Allient from $41.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

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.