Allient (NASDAQ:ALNT) Downgraded by Zacks Research to “Hold”

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

A number of other brokerages have also recently weighed in on ALNT. Weiss Ratings cut Allient from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. raised their target price on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen cut shares of Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Allient Stock Down 3.3%

ALNT opened at $113.33 on Tuesday. The business’s 50-day simple moving average is $102.30 and its 200-day simple moving average is $86.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. Allient has a one year low of $42.42 and a one year high of $121.42. The stock has a market capitalization of $1.93 billion, a P/E ratio of 66.67 and a beta of 1.58.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The firm had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. Analysts anticipate that Allient will post 2.73 EPS for the current year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. Allient’s payout ratio is presently 9.41%.

Insider Activity at Allient

In other news, CEO Richard Warzala sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares in the company, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allient

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Allient in the 2nd quarter worth $25,000. Kilter Group LLC acquired a new position in shares of Allient during the second quarter worth about $37,000. EverSource Wealth Advisors LLC raised its holdings in Allient by 5,102.3% during the first 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. Dunhill Financial LLC purchased a new position in Allient during the second quarter worth about $226,000. Finally, Balboa Wealth Partners acquired a new stake in Allient in the first quarter valued at about $227,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

About Allient

Allient Inc (NASDAQ: ALNT) is a global manufacturer of precision and specialty motion-control products. The company designs and produces motors, motion controllers, drives, servo systems, electromechanical assemblies, and related components used to control movement and power in complex equipment.

Allient serves a range of markets, including medical equipment, aerospace and defense, industrial automation, robotics, vehicle systems, and other demanding applications. Its products are used in areas such as surgical and diagnostic equipment, factory automation, unmanned systems, and precision machinery.