Allient (NASDAQ:ALNT) Price Target Raised to $56.00

Allient (NASDAQ:ALNT) had its target price raised by equities researchers at Roth Capital from $49.00 to $56.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Capital’s target price indicates a potential upside of 6.86% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Zacks Research upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. JPMorgan Chase & Co. initiated coverage on shares of Allient in a report on Monday, October 20th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Allient currently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

Allient Price Performance

ALNT traded up $1.42 on Friday, hitting $52.41. 89,222 shares of the stock were exchanged, compared to its average volume of 141,230. The firm has a market capitalization of $887.93 million, a price-to-earnings ratio of 60.41 and a beta of 1.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17. Allient has a 12 month low of $19.25 and a 12 month high of $58.13. The business has a 50-day moving average of $48.84 and a two-hundred day moving average of $40.64.

Institutional Investors Weigh In On Allient

A number of hedge funds have recently modified their holdings of ALNT. Cullen Frost Bankers Inc. lifted its stake in shares of Allient by 173.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after buying an additional 633 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Allient during the 3rd quarter valued at approximately $41,000. CWM LLC lifted its position in Allient by 105.2% during the first quarter. CWM LLC now owns 1,890 shares of the company’s stock valued at $42,000 after purchasing an additional 969 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Allient in the 3rd quarter worth approximately $58,000. Finally, Tower Research Capital LLC TRC increased its position in Allient by 162.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after acquiring an additional 1,355 shares during the last quarter. Institutional investors own 61.57% of the company’s stock.

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.