JPMorgan Chase & Co. Has Lowered Expectations for Allient (NASDAQ:ALNT) Stock Price

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

ALNT has been the subject of a number of other reports. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of Allient from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings downgraded shares of Allient from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Allient presently has an average rating of “Moderate Buy” and an average target price of $82.33.

Allient Price Performance

Shares of Allient stock opened at $81.32 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.49 and a quick ratio of 1.99. The business’s 50 day simple moving average is $98.64 and its two-hundred day simple moving average is $82.89. The stock has a market capitalization of $1.38 billion, a P/E ratio of 36.63 and a beta of 1.62. Allient has a one year low of $48.12 and a one year high of $121.42.

Allient (NASDAQ:ALNT) last released its quarterly earnings data on Wednesday, November 4th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33. Allient had a return on equity of 15.80% and a net margin of 6.24%. The firm had revenue of $164.40 million during the quarter, compared to analyst estimates of $155.25 million. Analysts forecast that Allient will post 2.72 EPS for the current year.

Institutional Trading of Allient

Large investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc bought a new position in Allient in the 3rd quarter worth $2,991,000. Russell Investments Group Ltd. lifted its position in shares of Allient by 26.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 49,237 shares of the company’s stock worth $5,495,000 after purchasing an additional 10,216 shares during the period. Lisanti Capital Growth LLC boosted its stake 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 purchasing an additional 24,280 shares in the last quarter. Ethic Inc. bought a new stake in shares of Allient during the 3rd quarter valued at about $363,000. Finally, Kornitzer Capital Management Inc. KS increased its position in shares of Allient by 16.9% during the third 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 period. Institutional investors own 61.57% of the company’s stock.

About Allient

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.