Allient (NASDAQ:ALNT) Stock Price Target Cut by JPMorgan Chase & Co.

Allient (NASDAQ:ALNT) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $120.00 to $110.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 35.27% from the stock’s previous close.

Several other equities analysts have also recently commented on ALNT. Weiss Ratings cut shares of Allient from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Wall Street Zen upgraded Allient from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.33.

Allient Stock Performance

NASDAQ ALNT opened at $81.32 on Friday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 36.63 and a beta of 1.62. The business has a fifty day simple moving average of $98.64 and a 200 day simple moving average of $82.89. Allient has a 12 month low of $48.12 and a 12 month high of $121.42. The company has a current ratio of 3.49, a quick ratio of 1.99 and a debt-to-equity ratio of 0.53.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data 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 business had revenue of $164.40 million for the quarter, compared to analysts’ expectations of $155.25 million. On average, analysts predict that Allient will post 2.72 EPS for the current fiscal year.

Institutional Trading of Allient

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

Allient Company Profile

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.