JPMorgan Chase & Co. Boosts Allient (NASDAQ:ALNT) Price Target to $120.00

Allient (NASDAQ:ALNT) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $95.00 to $120.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.51% from the stock’s current price.

Several other research analysts also recently weighed in on ALNT. Macquarie Infrastructure set a $80.00 target price on Allient in a research note on Tuesday, May 26th. Weiss Ratings raised shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Roth Capital reissued a “buy” rating and issued a $70.00 price target on shares of Allient in a report on Friday, May 8th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Allient from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Allient has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Allient Stock Performance

Shares of ALNT stock traded up $0.41 on Friday, hitting $111.62. The company had a trading volume of 125,585 shares, compared to its average volume of 221,415. The firm has a market cap of $1.90 billion, a P/E ratio of 65.29 and a beta of 1.61. The company has a 50-day moving average price of $90.50 and a 200-day moving average price of $74.46. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. Allient has a twelve month low of $40.49 and a twelve month high of $117.48.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.19. The firm had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.69%. As a group, equities research analysts predict that Allient will post 2.47 earnings per share for the current fiscal year.

Institutional Trading of Allient

A number of institutional investors have recently made changes to their positions in the company. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Allient during the second quarter worth approximately $3,992,000. Bank of New York Mellon Corp acquired a new stake in Allient during the 2nd quarter worth $9,051,000. State of Wyoming acquired a new stake in Allient during the 2nd quarter worth $244,000. Bank of America Corp DE grew its holdings in shares of Allient by 3.3% during the first quarter. Bank of America Corp DE now owns 33,389 shares of the company’s stock worth $1,973,000 after buying an additional 1,079 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Allient in the first quarter valued at about $450,000. 61.57% of the stock is owned by institutional investors and hedge funds.

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.