Allient (NASDAQ:ALNT) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Allient (NASDAQ:ALNT) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other brokerages have also recently issued reports on ALNT. JPMorgan Chase & Co. upped their target price on shares of Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a report on Tuesday, May 26th. Jefferies Financial Group set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $84.00.

Allient Trading Up 8.8%

Shares of ALNT stock opened at $109.35 on Friday. 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 fifty-two week low of $41.75 and a fifty-two week high of $118.67. The stock has a market capitalization of $1.86 billion, a P/E ratio of 64.32 and a beta of 1.62. The company has a 50 day moving average price of $95.70 and a 200 day moving average price of $82.32.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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%. Equities research analysts predict that Allient will post 2.73 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.04 per share. The ex-dividend date 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 9.41%.

Insider Buying and Selling at Allient

In other news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 1,499,106 shares in the company, valued at $170,268,459.48. This trade 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 currently owned by corporate insiders.

Institutional Trading of Allient

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Allient in the second quarter valued at approximately $128,774,000. Jennison Associates LLC raised its stake in Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after purchasing an additional 186,316 shares during the period. Telemark Asset Management LLC acquired a new position in shares of Allient in the 4th quarter valued at $8,062,000. Bank of New York Mellon Corp purchased a new stake in shares of Allient during the 2nd quarter valued at $9,051,000. Finally, Deutsche Bank AG acquired a new stake in shares of Allient during the 2nd quarter worth $6,813,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.