Allient (NASDAQ:ALNT) Sets New 1-Year High – Time to Buy?

Allient Inc. (NASDAQ:ALNT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $65.48 and last traded at $64.58, with a volume of 5368 shares traded. The stock had previously closed at $64.01.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALNT. Roth Mkm raised their price target on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. JPMorgan Chase & Co. started coverage on shares of Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.33.

Allient Trading Down 3.6%

The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 55.12 and a beta of 1.53. The business’s 50 day moving average price is $57.50 and its 200-day moving average price is $50.60.

Insider Activity at Allient

In related news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total transaction of $836,000.00. Following the transaction, the vice president owned 23,166 shares of the company’s stock, valued at $1,210,423.50. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 14.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allient

Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of Allient in the 3rd quarter valued at about $34,000. State of Alaska Department of Revenue acquired a new stake in shares of Allient during the 3rd quarter valued at approximately $41,000. Cullen Frost Bankers Inc. lifted its position in shares of Allient by 173.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after acquiring an additional 633 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Allient during the 3rd quarter worth approximately $58,000. Finally, AlphaQuest LLC acquired a new stake in shares of Allient in the 3rd quarter worth approximately $88,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.