Brokerages Set Allient Inc. (NASDAQ:ALNT) Target Price at $84.00

Shares of Allient Inc. (NASDAQ:ALNT) have been given a consensus rating of “Buy” by the six analysts that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $84.00.

Several brokerages recently commented on ALNT. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. upped their price objective on Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Finally, Jefferies Financial Group set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th.

Insider Activity

In other news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the transaction, the chief executive officer owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Allient

Several hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new position in Allient during the second quarter valued at approximately $25,000. Arax Advisory Partners increased its holdings in shares of Allient by 113.9% in the 4th 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. Advisory Services Network LLC bought a new position in shares of Allient in the 3rd quarter worth $34,000. Larson Financial Group LLC lifted its stake in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares during the last quarter. Finally, Kilter Group LLC purchased a new position in Allient in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Price Performance

ALNT stock opened at $98.66 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The company’s fifty day moving average price is $94.48 and its 200-day moving average price is $80.87. Allient has a one year low of $41.75 and a one year high of $118.67. The company has a market capitalization of $1.68 billion, a PE ratio of 58.04 and a beta of 1.62.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 EPS 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 business had revenue of $153.77 million for the quarter, compared to analysts’ expectations of $145.68 million. On average, equities analysts anticipate that Allient will post 2.73 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Allient’s dividend payout ratio is currently 9.41%.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.