Allient (NASDAQ:ALNT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Allient (NASDAQ:ALNT) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $80.00 to $95.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 4.98% from the stock’s previous close.

Several other brokerages have also issued reports on ALNT. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a report on Tuesday, May 26th. Jefferies Financial Group set a $80.00 target price on Allient in a research report on Tuesday, May 26th. Roth Capital reiterated a “buy” rating and issued a $70.00 price target on shares of Allient in a report on Friday, May 8th. Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen cut Allient from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.83.

Allient Stock Performance

ALNT stock opened at $90.49 on Monday. The company has a market capitalization of $1.54 billion, a PE ratio of 63.28 and a beta of 1.59. Allient has a 12 month low of $36.85 and a 12 month high of $104.65. The firm’s 50-day moving average is $82.19 and its 200 day moving average is $70.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The company had revenue of $138.91 million for the quarter, compared to the consensus estimate of $138.42 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. On average, research analysts anticipate that Allient will post 2.47 EPS for the current year.

Hedge Funds Weigh In On Allient

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