Allient (NASDAQ:ALNT) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Allient (NASDAQ:ALNT) from a strong-buy rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

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

Allient Trading Up 1.4%

Shares of Allient stock opened at $100.49 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 59.11 and a beta of 1.62. The business has a fifty day simple moving average of $95.26 and a 200-day simple moving average of $81.87. Allient has a fifty-two week low of $41.75 and a fifty-two week high of $118.67.

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

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Allient’s payout ratio is presently 9.41%.

Insider Activity at Allient

In other Allient news, CEO Richard Warzala sold 70,000 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 15.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allient

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Allient in the 2nd quarter worth approximately $128,774,000. Jennison Associates LLC raised its stake in Allient by 111.5% during 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. Telemark Asset Management LLC purchased a new stake in shares of Allient in the fourth quarter valued at $8,062,000. Bank of New York Mellon Corp acquired a new stake in shares of Allient in the second quarter worth $9,051,000. Finally, Deutsche Bank AG acquired a new stake in shares of Allient in the second quarter worth $6,813,000. Hedge funds and other 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.