Allient (NASDAQ:ALNT) Downgraded to “Hold” Rating by Wall Street Zen

Allient (NASDAQ:ALNT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms have also recently weighed in on ALNT. JPMorgan Chase & Co. upgraded shares of Allient from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $65.00 to $80.00 in a research note on Tuesday, May 26th. Roth Mkm restated a “buy” rating and set a $70.00 price target on shares of Allient in a research note on Friday, May 8th. Weiss Ratings upgraded Allient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Craig Hallum reaffirmed a “buy” rating and set a $75.00 price target on shares of Allient in a research report on Monday, March 9th. Finally, Macquarie Infrastructure set a $80.00 price target on Allient in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Allient currently has a consensus rating of “Moderate Buy” and an average target price of $77.33.

Allient Price Performance

Shares of NASDAQ:ALNT opened at $86.89 on Friday. The company has a market capitalization of $1.48 billion, a P/E ratio of 60.76 and a beta of 1.59. The company’s 50-day moving average is $80.85 and its 200 day moving average is $68.96. 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 has a fifty-two week low of $36.85 and a fifty-two week high of $104.65.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The company had revenue of $138.91 million for the quarter, compared to analysts’ expectations of $138.42 million. On average, equities research analysts forecast that Allient will post 2.47 earnings per share for the current year.

Institutional Trading of Allient

A number of institutional investors have recently modified their holdings of ALNT. Royal Bank of Canada grew its stake in Allient by 19.8% in the 1st quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock valued at $2,453,000 after buying an additional 18,416 shares in the last quarter. AQR Capital Management LLC raised its holdings in Allient by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after acquiring an additional 3,979 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Allient by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after acquiring an additional 390 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Allient by 8.1% during the first quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Allient by 9.9% in the first quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock worth $404,000 after acquiring an additional 1,663 shares during the period. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.