Allient Inc. (NASDAQ:ALNT) Given Consensus Rating of “Buy” by Brokerages

Shares of Allient Inc. (NASDAQ:ALNT) have been given a consensus recommendation of “Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $84.00.

A number of research firms recently 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. Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Macquarie Infrastructure set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Allient in a research note on Friday, May 8th.

Allient Trading Down 3.8%

NASDAQ ALNT opened at $108.74 on Wednesday. The firm’s 50-day moving average is $94.78 and its two-hundred day moving average is $77.28. Allient has a 12 month low of $41.75 and a 12 month high of $118.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95. The stock has a market capitalization of $1.85 billion, a P/E ratio of 63.97 and a beta of 1.61.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19. Allient had a net margin of 4.98% and a return on equity of 13.55%. The company had revenue of $153.77 million during the quarter, compared to analyst estimates of $145.68 million. On average, sell-side analysts anticipate that Allient will post 2.72 earnings per share for the current year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, August 19th. Allient’s dividend payout ratio (DPR) is 9.41%.

Insiders Place Their Bets

In other Allient news, CEO Richard S. Warzala sold 70,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in Allient during the 2nd quarter worth approximately $25,000. Arax Advisory Partners grew its stake in shares of Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Allient in the third quarter worth $34,000. Larson Financial Group LLC increased its position in shares of Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after acquiring an additional 413 shares during the period. Finally, Kilter Group LLC purchased a new stake in shares of Allient during the second quarter worth $37,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

About Allient

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.