Allient Inc. (NASDAQ:ALNT) Stock Now Rated “Buy” by Sell-Side Analysts

Allient Inc. (NASDAQ:ALNT) has been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $84.00.

A number of analysts have recently weighed in on ALNT shares. JPMorgan Chase & Co. upped their target price on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings cut shares of Allient from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, September 21st. Wall Street Zen cut Allient from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 19th. Finally, Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th.

Allient Stock Performance

NASDAQ:ALNT opened at $111.60 on Thursday. The business has a 50 day moving average of $99.12 and a 200 day moving average of $84.73. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 65.65 and a beta of 1.62. Allient has a 1-year low of $41.75 and a 1-year high of $118.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95.

Allient (NASDAQ:ALNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.19. Allient had a return on equity of 13.55% and a net margin of 4.98%.The business had revenue of $153.77 million during the quarter, compared to analyst estimates of $145.68 million. On average, sell-side analysts predict that Allient will post 2.73 earnings per share for the current fiscal year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. Allient’s dividend payout ratio (DPR) is presently 9.41%.

Insiders Place Their Bets

In other news, CEO Richard Warzala sold 70,000 shares of the business’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 sale, the chief executive officer directly owned 1,499,106 shares in the company, valued at $170,268,459.48. The trade was a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in Allient during the 2nd quarter valued at about $25,000. Kilter Group LLC acquired a new position in Allient during the 2nd quarter valued at about $37,000. Dunhill Financial LLC purchased a new position in shares of Allient in the 2nd quarter valued at approximately $226,000. EverSource Wealth Advisors LLC raised its holdings in shares of Allient by 5,102.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,289 shares of the company’s stock worth $135,000 after buying an additional 2,245 shares during the last quarter. Finally, State of Wyoming purchased a new position in Allient in the 2nd quarter worth $244,000. Institutional investors own 61.57% of the company’s stock.

About Allient

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.