Allient (NASDAQ:ALNT) Rating Lowered to Buy at Wall Street Zen

Allient (NASDAQ:ALNT) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Jefferies Financial Group set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Finally, Macquarie Infrastructure set a $80.00 price objective on Allient in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat, Allient has a consensus rating of “Buy” and a consensus price target of $84.00.

Allient Stock Performance

Shares of ALNT stock opened at $100.49 on Friday. Allient has a 1-year low of $41.75 and a 1-year high of $118.67. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 59.11 and a beta of 1.62. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95. The stock has a 50 day simple moving average of $95.26 and a 200-day simple moving average of $81.99.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The firm had revenue of $153.77 million for the quarter, compared to analysts’ expectations of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. On average, equities research analysts expect that Allient will post 2.73 EPS for the current fiscal year.

Insider Transactions at Allient

In other Allient news, CEO Richard Warzala sold 70,000 shares of Allient stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allient

Several hedge funds and other institutional investors have recently modified their holdings of ALNT. Meeder Asset Management Inc. acquired a new position in Allient during the second quarter worth about $25,000. Kilter Group LLC acquired a new stake in Allient in the 2nd quarter valued at about $37,000. Larson Financial Group LLC raised its holdings in Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after purchasing an additional 209 shares in the last quarter. Finally, Dunhill Financial LLC purchased a new position in Allient in the 2nd quarter worth approximately $226,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.