Allient (NASDAQ:ALNT) Reaches New 1-Year High – Time to Buy?

Allient Inc. (NASDAQ:ALNT) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $65.48 and last traded at $64.58, with a volume of 5368 shares. The stock had previously closed at $64.01.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Allient in a report on Monday, October 20th. They set a “neutral” rating and a $60.00 price target for the company. Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Roth Mkm increased their price target on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Allient in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Allient presently has an average rating of “Hold” and an average target price of $50.33.

Allient Stock Performance

The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 58.70 and a beta of 1.53. The company has a quick ratio of 2.01, a current ratio of 3.53 and a debt-to-equity ratio of 0.65. The company has a 50 day simple moving average of $58.05 and a 200 day simple moving average of $50.94.

Insider Transactions at Allient

In related news, VP Ashish Bendre sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total value of $836,000.00. Following the completion of the transaction, the vice president owned 23,166 shares of the company’s stock, valued at $1,210,423.50. This represents a 40.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new stake in Allient during the 3rd quarter worth approximately $34,000. Cullen Frost Bankers Inc. grew its stake in shares of Allient by 173.0% in the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after purchasing an additional 633 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Allient in the third quarter valued at $41,000. Finally, New York State Teachers Retirement System bought a new position in Allient during the 3rd quarter worth $58,000. Institutional investors own 61.57% of the company’s stock.

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.