Allied Motion Technologies Inc. (AMOT) Upgraded at Zacks Investment Research
Allied Motion Technologies Inc. (NASDAQ:AMOT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Hathaway Corporation is engaged in the business of designing, manufacturing and selling advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. The company’s power instrumentation products helps ensure that electric utilities provide high quality service to consumers of electricity. The company’s equipment assists the electric power system operators in operating and maintaining proper system performance. “
AMOT has been the topic of several other research reports. TheStreet raised Allied Motion Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Dougherty & Co started coverage on Allied Motion Technologies in a research note on Friday, July 1st. They issued a “neutral” rating on the stock.
Allied Motion Technologies (NASDAQ:AMOT) traded down 2.06% during trading on Tuesday, reaching $19.06. The company’s stock had a trading volume of 32,056 shares. Allied Motion Technologies has a 1-year low of $15.46 and a 1-year high of $27.70. The stock has a market capitalization of $179.09 million, a PE ratio of 17.65 and a beta of 1.74. The stock has a 50 day moving average price of $20.44 and a 200 day moving average price of $21.10.
Allied Motion Technologies (NASDAQ:AMOT) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Allied Motion Technologies had a return on equity of 14.90% and a net margin of 4.15%. The business had revenue of $65.80 million for the quarter, compared to analyst estimates of $60.50 million. Analysts anticipate that Allied Motion Technologies will post $1.14 earnings per share for the current fiscal year.
In related news, Director Richard D. /Co/ Smith sold 10,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $22.76, for a total transaction of $227,600.00. Following the transaction, the director now owns 37,404 shares of the company’s stock, valued at approximately $851,315.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard D. /Co/ Smith sold 4,881 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $21.78, for a total value of $106,308.18. Following the transaction, the director now directly owns 37,404 shares in the company, valued at approximately $814,659.12. The disclosure for this sale can be found here. Corporate insiders own 30.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AMOT. Thomson Horstmann & Bryant Inc. raised its position in Allied Motion Technologies by 63.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 389,829 shares of the company’s stock valued at $9,067,000 after buying an additional 150,898 shares during the last quarter. Skylands Capital LLC purchased a new position in Allied Motion Technologies during the second quarter valued at about $949,000. Bank of Montreal Can purchased a new position in Allied Motion Technologies during the second quarter valued at about $179,000. Pitcairn Co. purchased a new position in Allied Motion Technologies during the second quarter valued at about $222,000. Finally, Strs Ohio raised its position in Allied Motion Technologies by 8.1% in the second quarter. Strs Ohio now owns 8,000 shares of the company’s stock valued at $186,000 after buying an additional 600 shares during the last quarter. 37.37% of the stock is currently owned by hedge funds and other institutional investors.
About Allied Motion Technologies
Allied Motion Technologies Inc designs, manufactures and sells precision and specialty motion control components and systems used in a range of industries. The Company serves various markets, including vehicle, medical, aerospace and defense, electronics and industrial. It focuses on motion control applications.
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