Allient (NASDAQ:ALNT) Price Target Raised to $69.00

Allient (NASDAQ:ALNT) had its price objective increased by equities research analysts at Roth Mkm from $56.00 to $69.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 6.35% from the company’s current price.

Several other brokerages also recently commented on ALNT. Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Craig Hallum reaffirmed a “buy” rating and set a $75.00 target price on shares of Allient in a research report on Monday, March 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Finally, Lake Street Capital began coverage on Allient in a research note on Wednesday, February 18th. They set a “buy” rating and a $79.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.60.

Allient Stock Up 4.1%

Shares of NASDAQ ALNT traded up $2.54 during mid-day trading on Monday, reaching $64.88. 105,166 shares of the company’s stock traded hands, compared to its average volume of 172,576. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.66 and a quick ratio of 2.08. The business has a 50-day simple moving average of $63.34 and a 200 day simple moving average of $55.12. The stock has a market cap of $1.10 billion, a P/E ratio of 49.15 and a beta of 1.51. Allient has a 1-year low of $19.25 and a 1-year high of $70.00.

Allient (NASDAQ:ALNT) last posted its earnings results on Thursday, March 5th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. Allient had a net margin of 3.97% and a return on equity of 12.53%. The company had revenue of $143.35 million for the quarter, compared to analyst estimates of $133.33 million. On average, analysts expect that Allient will post 1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Allient

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Allient by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock worth $54,355,000 after buying an additional 26,438 shares during the last quarter. State Street Corp raised its stake in Allient by 32.5% in the 4th quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after acquiring an additional 96,264 shares during the period. Geode Capital Management LLC lifted its holdings in Allient by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after purchasing an additional 10,173 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Allient by 20.5% during the third 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 during the period. Finally, Portolan Capital Management LLC purchased a new position in shares of Allient in the third quarter worth about $11,530,000. 61.57% of the stock is owned by institutional investors.

Allient Company Profile

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.