Allient (NASDAQ:ALNT) Posts Earnings Results, Beats Expectations By $0.19 EPS

Allient (NASDAQ:ALNT) issued its earnings results on Wednesday. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19, FiscalAI reports. Allient had a net margin of 4.25% and a return on equity of 12.47%. The business had revenue of $153.77 million for the quarter, compared to analyst estimates of $145.68 million.

Allient Price Performance

NASDAQ:ALNT traded down $1.31 on Wednesday, reaching $93.25. The stock had a trading volume of 208,637 shares, compared to its average volume of 218,981. The company has a market capitalization of $1.59 billion, a P/E ratio of 65.21 and a beta of 1.61. Allient has a 1-year low of $38.24 and a 1-year high of $104.65. The stock has a fifty day moving average price of $89.42 and a 200-day moving average price of $73.89. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Macquarie Infrastructure set a $80.00 target price on Allient in a report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price objective on Allient from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Roth Capital restated a “buy” rating and set a $70.00 price target on shares of Allient in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.83.

Institutional Trading of Allient

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Allient by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 984,815 shares of the company’s stock valued at $44,070,000 after acquiring an additional 66,552 shares during the last quarter. State Street Corp lifted its position in shares of Allient by 32.5% in the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after buying an additional 96,264 shares during the last quarter. Geode Capital Management LLC boosted its position in Allient by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock worth $19,808,000 after purchasing an additional 10,173 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Allient by 20.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock valued at $13,009,000 after acquiring an additional 49,384 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Allient by 1,291.3% in the 3rd quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after purchasing an additional 142,763 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.