Allient (NASDAQ:ALNT) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Allient (NASDAQ:ALNTFree Report) from a strong-buy rating to a hold rating in a report issued on Saturday.

Several other equities analysts have also recently weighed in on ALNT. Craig Hallum reiterated a “buy” rating and set a $75.00 price objective on shares of Allient in a research report on Monday, March 9th. Roth Mkm reiterated a “buy” rating and set a $70.00 price objective on shares of Allient in a research report on Friday. Lake Street Capital started coverage on shares of Allient in a research report on Wednesday, February 18th. They set a “buy” rating and a $79.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Allient from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.25.

Check Out Our Latest Report on ALNT

Allient Trading Up 1.4%

Allient stock opened at $66.69 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.08 and a current ratio of 3.73. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 46.64 and a beta of 1.65. Allient has a 1 year low of $27.00 and a 1 year high of $80.39. The firm’s 50 day moving average price is $66.64 and its two-hundred day moving average price is $60.72.

Allient (NASDAQ:ALNTGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The firm had revenue of $138.92 million for the quarter, compared to analysts’ expectations of $138.42 million. On average, research analysts predict that Allient will post 2.58 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. This is an increase from Allient’s previous quarterly dividend of $0.03. Allient’s dividend payout ratio is presently 11.19%.

Hedge Funds Weigh In On Allient

Several institutional investors and hedge funds have recently modified their holdings of ALNT. Royal Bank of Canada grew its holdings in shares of Allient by 19.8% during the 1st quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock valued at $2,453,000 after acquiring an additional 18,416 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Allient by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after acquiring an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Allient by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after acquiring an additional 390 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Allient by 8.1% during the 1st quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock valued at $1,012,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Allient by 9.9% during the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock valued at $404,000 after acquiring an additional 1,663 shares in the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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About Allient

(Get Free Report)

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.

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