Allient (NASDAQ:ALNT) Rating Lowered to Hold at Zacks Research

Allient (NASDAQ:ALNT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Several other equities research analysts also recently issued reports on ALNT. Wall Street Zen downgraded Allient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. Weiss Ratings cut Allient from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, September 21st. Finally, JPMorgan Chase & Co. upped their target price on Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

Allient Price Performance

Shares of NASDAQ:ALNT opened at $113.33 on Tuesday. The company’s fifty day moving average is $102.30 and its two-hundred day moving average is $86.64. 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 has a 12-month low of $42.42 and a 12-month high of $121.42. The company has a market cap of $1.93 billion, a P/E ratio of 66.67 and a beta of 1.58.

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

Insider Buying and Selling

In other Allient news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction dated 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 directly owned 1,499,106 shares in the company, valued at $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.00% of the stock is owned by insiders.

Institutional Trading of Allient

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC bought a new stake in shares of Allient during the 2nd quarter worth about $280,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Allient in the 2nd quarter valued at approximately $721,000. Round Rock Advisors LLC lifted its holdings in Allient by 8.2% in the 2nd quarter. Round Rock Advisors LLC now owns 24,086 shares of the company’s stock worth $2,479,000 after purchasing an additional 1,822 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Allient in the 2nd quarter worth approximately $3,181,000. Finally, Navellier & Associates Inc. boosted its position in Allient by 158.7% during the second quarter. Navellier & Associates Inc. now owns 17,975 shares of the company’s stock worth $1,850,000 after purchasing an additional 11,027 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

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.