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

Zacks Research downgraded shares of Allient (NASDAQ:ALNT) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other brokerages also recently commented on ALNT. Roth Capital lifted their target price on Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. initiated coverage on Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.33.

Allient Trading Up 3.4%

Allient stock opened at $55.58 on Thursday. The firm’s 50-day moving average is $53.88 and its 200-day moving average is $46.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. Allient has a 1 year low of $19.25 and a 1 year high of $58.13. The company has a market cap of $941.53 million, a P/E ratio of 49.63 and a beta of 1.55.

Allient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, November 20th. Allient’s dividend payout ratio is 10.71%.

Insider Buying and Selling

In other Allient news, VP Ashish Bendre sold 16,000 shares of Allient 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 sale, the vice president owned 23,166 shares of the company’s stock, valued at $1,210,423.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Advisory Services Network LLC acquired a new stake in Allient in the third quarter worth about $34,000. State of Alaska Department of Revenue bought a new stake in shares of Allient during the 3rd quarter worth about $41,000. Cullen Frost Bankers Inc. lifted its stake in shares of Allient by 173.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after acquiring an additional 633 shares during the period. New York State Teachers Retirement System bought a new position in shares of Allient in the third quarter valued at approximately $58,000. Finally, AlphaQuest LLC acquired a new position in shares of Allient during the third quarter valued at approximately $88,000. 61.57% of the stock is 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.