Allient Inc. (NASDAQ:ALNT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Allient Inc. (NASDAQ:ALNT) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $77.3333.

A number of analysts have recently issued reports on the company. Craig Hallum reaffirmed a “buy” rating and issued a $75.00 price target on shares of Allient in a research note on Monday, March 9th. Wall Street Zen raised Allient from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Jefferies Financial Group set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Weiss Ratings lowered shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. upgraded shares of Allient from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $65.00 to $80.00 in a research report on Tuesday, May 26th.

Allient Stock Up 2.2%

Shares of NASDAQ ALNT opened at $99.79 on Tuesday. The company’s 50-day simple moving average is $79.14 and its 200-day simple moving average is $67.99. Allient has a 52-week low of $35.36 and a 52-week high of $104.65. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 69.78 and a beta of 1.64. 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 (NASDAQ:ALNT) last announced its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). The company had revenue of $138.92 million during the quarter, compared to analyst estimates of $138.42 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. Equities analysts predict that Allient will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This is a boost from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio (DPR) is presently 11.19%.

Hedge Funds Weigh In On Allient

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its position in 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 acquiring an additional 1,079 shares during the last quarter. Smith Group Asset Management LLC acquired a new position in Allient during the first quarter worth about $450,000. EverSource Wealth Advisors LLC boosted its position in Allient by 5,102.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,289 shares of the company’s stock worth $135,000 after acquiring an additional 2,245 shares during the last quarter. Quantinno Capital Management LP boosted its position in Allient by 10.3% during the first quarter. Quantinno Capital Management LP now owns 11,701 shares of the company’s stock worth $691,000 after acquiring an additional 1,088 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Allient by 87.9% during the first quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock worth $3,275,000 after acquiring an additional 25,935 shares during the last quarter. 61.57% of the stock is currently owned by institutional investors and hedge funds.

About Allient

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.