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

Shares of Allient Inc. (NASDAQ:ALNT) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $77.3333.

Several research analysts have commented on the stock. Craig Hallum reiterated a “buy” rating and set a $75.00 price target on shares of Allient in a report on Monday, March 9th. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Allient in a report on Friday, May 8th. Weiss Ratings cut shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen lowered Allient from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Lake Street Capital assumed coverage on Allient in a research note on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price target on the stock.

Allient Price Performance

ALNT stock opened at $74.59 on Friday. The business’s 50-day moving average is $66.97 and its two-hundred day moving average is $61.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15. The firm has a market capitalization of $1.27 billion, a P/E ratio of 52.16 and a beta of 1.65. Allient has a 1 year low of $30.00 and a 1 year high of $80.39.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 12.47% and a net margin of 4.25%. Analysts anticipate that Allient will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

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

Institutional Investors Weigh In On Allient

Several institutional investors have recently added to or reduced their stakes in the business. Portolan Capital Management LLC purchased a new position in Allient in the third quarter valued at approximately $11,530,000. Jennison Associates LLC raised its holdings 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 in the last quarter. Telemark Asset Management LLC purchased a new stake in shares of Allient during the 4th quarter worth approximately $8,062,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Allient during the 3rd quarter worth approximately $6,656,000. Finally, Marshall Wace LLP boosted its holdings in shares of Allient by 1,291.3% in the 3rd quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after buying an additional 142,763 shares in the last quarter. Hedge funds and other institutional investors own 61.57% of the company’s stock.

About Allient

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.