Allient Inc. (NASDAQ:ALNT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Allient Inc. (NASDAQ:ALNT) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $77.3333.

ALNT has been the subject of several analyst reports. Craig Hallum reissued a “buy” rating and set a $75.00 price target on shares of Allient in a research report on Monday, March 9th. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Allient in a report on Friday, May 8th.

Hedge Funds Weigh In On Allient

Several hedge funds have recently modified their holdings of ALNT. Royal Bank of Canada increased its holdings in shares of Allient by 19.8% during the first 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 increased its holdings in Allient by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock worth $1,179,000 after buying an additional 3,979 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Allient by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after buying an additional 390 shares during the period. Empowered Funds LLC increased its holdings in Allient by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after buying an additional 3,458 shares during the period. Finally, Jane Street Group LLC increased its holdings in Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock worth $404,000 after buying an additional 1,663 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Stock Performance

ALNT stock opened at $98.78 on Tuesday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 69.08 and a beta of 1.64. The firm has a 50-day simple moving average of $76.38 and a two-hundred day simple moving average of $66.44. Allient has a one year low of $33.33 and a one year high of $100.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). The firm had revenue of $138.92 million for the quarter, compared to analysts’ expectations of $138.42 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. On average, equities analysts forecast that Allient will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. 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. The ex-dividend date was Thursday, May 21st. Allient’s dividend payout ratio is currently 11.19%.

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.