Allient (NASDAQ:ALNT) Shares Gap Down After Analyst Downgrade

Allient Inc. (NASDAQ:ALNT) shares gapped down before the market opened on Tuesday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. The stock had previously closed at $106.38, but opened at $100.93. JPMorgan Chase & Co. now has a $120.00 price target on the stock. Allient shares last traded at $102.4990, with a volume of 26,851 shares.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday. Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of Allient from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 19th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Insiders Place Their Bets

In other Allient news, CEO Richard Warzala sold 70,000 shares of the business’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 of the company’s stock, valued at approximately $170,268,459.48. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALNT. Meeder Asset Management Inc. acquired a new position in shares of Allient during the 2nd quarter valued at about $25,000. Kilter Group LLC purchased a new stake in shares of Allient in the second quarter valued at about $37,000. GAMMA Investing LLC grew its holdings in shares of Allient by 29.3% in the third quarter. GAMMA Investing LLC now owns 485 shares of the company’s stock valued at $54,000 after purchasing an additional 110 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Allient by 5,102.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,289 shares of the company’s stock valued at $135,000 after purchasing an additional 2,245 shares during the period. Finally, Dunhill Financial LLC purchased a new stake in shares of Allient in the second quarter valued at about $226,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Trading Down 3.8%

The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 60.18 and a beta of 1.58. The company’s 50-day moving average is $103.52 and its 200-day moving average is $87.60. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56.

Allient (NASDAQ:ALNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. Research analysts anticipate that Allient Inc. will post 2.73 earnings per share for the current fiscal year.

Allient Announces Dividend

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

Allient Company Profile

Allient Inc (NASDAQ: ALNT) is a global manufacturer of precision and specialty motion-control products. The company designs and produces motors, motion controllers, drives, servo systems, electromechanical assemblies, and related components used to control movement and power in complex equipment.

Allient serves a range of markets, including medical equipment, aerospace and defense, industrial automation, robotics, vehicle systems, and other demanding applications. Its products are used in areas such as surgical and diagnostic equipment, factory automation, unmanned systems, and precision machinery.