Allient (NASDAQ:ALNT) Releases Earnings Results, Beats Expectations By $0.33 EPS

Allient (NASDAQ:ALNT) released its earnings results on Wednesday. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.33, FiscalAI reports. Allient had a net margin of 4.98% and a return on equity of 13.55%. The business had revenue of $164.40 million during the quarter, compared to analysts’ expectations of $155.25 million.

Allient Stock Performance

ALNT stock traded down $8.46 during trading on Wednesday, hitting $79.56. The company had a trading volume of 405,341 shares, compared to its average volume of 207,632. 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 50-day moving average price of $99.28 and a 200-day moving average price of $82.72. Allient has a 1-year low of $44.30 and a 1-year high of $121.42. The firm has a market cap of $1.35 billion, a PE ratio of 46.80 and a beta of 1.62.

Insider Activity at Allient

In other news, CEO Richard Warzala sold 70,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was 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. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

ALNT has been the topic of several research analyst reports. Wall Street Zen cut Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Weiss Ratings cut Allient from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, JPMorgan Chase & Co. cut shares of Allient from an “overweight” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research note on Tuesday, October 13th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Allient currently has an average rating of “Moderate Buy” and an average target price of $84.00.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.