Roth Capital Issues Positive Forecast for Allient (NASDAQ:ALNT) Stock Price

Allient (NASDAQ:ALNT) had its price target hoisted by Roth Capital from $49.00 to $56.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. assumed coverage on Allient in a research note on Monday, October 20th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

Allient Trading Up 3.9%

NASDAQ:ALNT traded up $2.01 during mid-day trading on Friday, reaching $53.00. 199,273 shares of the company’s stock traded hands, compared to its average volume of 141,766. The company has a 50 day moving average price of $48.99 and a 200-day moving average price of $40.86. The firm has a market capitalization of $897.98 million, a price-to-earnings ratio of 61.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17. Allient has a 12-month low of $19.25 and a 12-month high of $58.13.

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio is presently 10.71%.

Institutional Trading of Allient

Hedge funds have recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of Allient during the first quarter valued at approximately $47,025,000. Vanguard Group Inc. raised its holdings in shares of Allient by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 984,815 shares of the company’s stock valued at $44,070,000 after purchasing an additional 66,552 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Allient by 1.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 450,279 shares of the company’s stock valued at $16,350,000 after purchasing an additional 7,944 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Allient by 1.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 333,277 shares of the company’s stock worth $12,101,000 after purchasing an additional 6,145 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Allient by 20.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock worth $13,009,000 after purchasing an additional 49,384 shares in the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.