Allient (NASDAQ:ALNT) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Allient (NASDAQ:ALNT) from a buy rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently weighed in on ALNT. Weiss Ratings downgraded Allient from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. JPMorgan Chase & Co. cut Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Tuesday, October 13th. Finally, Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Allient Stock Performance

Shares of ALNT stock opened at $81.32 on Friday. Allient has a 12-month low of $48.12 and a 12-month high of $121.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.49 and a quick ratio of 1.95. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 36.63 and a beta of 1.62. The business has a 50 day simple moving average of $98.64 and a 200 day simple moving average of $82.89.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.33. Allient had a return on equity of 15.80% and a net margin of 6.24%. The firm had revenue of $164.40 million for the quarter, compared to the consensus estimate of $155.25 million. On average, equities research analysts anticipate that Allient will post 2.72 EPS for the current year.

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be given a $0.04 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s payout ratio is 7.21%.

Insider Transactions at Allient

In other Allient 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 transaction, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Allient

Several large investors have recently modified their holdings of ALNT. Aberdeen Group plc purchased a new position in shares of Allient in the third quarter worth approximately $2,991,000. Russell Investments Group Ltd. raised its holdings in shares of Allient by 26.2% during the third quarter. Russell Investments Group Ltd. now owns 49,237 shares of the company’s stock valued at $5,495,000 after acquiring an additional 10,216 shares during the period. Lisanti Capital Growth LLC raised its holdings in shares of Allient by 78.6% during the third quarter. Lisanti Capital Growth LLC now owns 55,170 shares of the company’s stock valued at $6,157,000 after acquiring an additional 24,280 shares during the period. Ethic Inc. purchased a new stake in shares of Allient in the 3rd quarter valued at approximately $363,000. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Allient by 16.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 59,059 shares of the company’s stock valued at $6,591,000 after acquiring an additional 8,534 shares in the last quarter. 61.57% of the stock is owned by institutional investors.

About Allient

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.