Allient (NASDAQ:ALNT) Hits New 52-Week High – Should You Buy?

Allient Inc. (NASDAQ:ALNT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $97.97 and last traded at $95.73, with a volume of 436456 shares. The stock had previously closed at $95.09.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Craig Hallum restated a “buy” rating and set a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised shares of Allient from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $65.00 to $80.00 in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Allient Price Performance

The firm has a market cap of $1.63 billion, a P/E ratio of 67.03 and a beta of 1.63. The business’s fifty day simple moving average is $75.16 and its 200-day simple moving average is $65.83. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The company had revenue of $138.91 million during the quarter, compared to the consensus estimate of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. As a group, analysts forecast that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a dividend of $0.04 per share. This is a positive change from Allient’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s payout ratio is currently 11.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALNT. Cullen Frost Bankers Inc. increased its position in shares of Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after buying an additional 209 shares during the period. Jag Capital Management LLC boosted its position in shares of Allient by 5.1% in the first quarter. Jag Capital Management LLC now owns 5,107 shares of the company’s stock valued at $302,000 after acquiring an additional 246 shares during the period. Arax Advisory Partners boosted its position in shares of Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after acquiring an additional 263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Allient by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after acquiring an additional 390 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 61.57% of the company’s stock.

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.