Allient (NASDAQ:ALNT) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Key Points

• Analysts at JPMorgan Chase & Co. have initiated coverage of Allient (NASDAQ:ALNT) with a "neutral" rating and a price target of $60.00, suggesting a potential upside of 21.83% from its current value.
• Allient's latest earnings report showed an EPS of $0.57, exceeding analyst expectations, with revenue of $139.58 million for the quarter.
• The stock has a consensus rating of "Hold" from four analysts, with an average target price of $47.50, reflecting a cautious outlook among market evaluators.

Equities research analysts at JPMorgan Chase & Co. initiated coverage on shares of Allient (NASDAQ:ALNT - Get Free Report) in a research note issued on Monday,Benzinga reports. The firm set a "neutral" rating and a $60.00 price target on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 21.83% from the stock's previous close.

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Allient in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $47.50.

Allient Stock Down 0.8%

Shares of NASDAQ:ALNT opened at $49.25 on Monday. Allient has a 1 year low of $16.91 and a 1 year high of $53.62. The business has a 50 day simple moving average of $45.75 and a two-hundred day simple moving average of $36.47. The firm has a market capitalization of $834.79 million, a PE ratio of 57.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.09. The firm had revenue of $139.58 million during the quarter, compared to analyst estimates of $132.89 million. Allient had a return on equity of 9.97% and a net margin of 2.75%. On average, equities analysts predict that Allient will post 1.43 EPS for the current year.

Hedge Funds Weigh In On Allient

A number of large investors have recently made changes to their positions in ALNT. GAMMA Investing LLC acquired a new stake in shares of Allient in the 1st quarter worth $60,000. Allspring Global Investments Holdings LLC boosted its position in shares of Allient by 8.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 442,335 shares of the company's stock worth $9,731,000 after purchasing an additional 36,142 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Allient by 26.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 104,988 shares of the company's stock worth $2,308,000 after purchasing an additional 22,098 shares in the last quarter. CWM LLC boosted its position in shares of Allient by 105.2% in the 1st quarter. CWM LLC now owns 1,890 shares of the company's stock worth $42,000 after purchasing an additional 969 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Allient by 37.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 327,132 shares of the company's stock worth $7,190,000 after purchasing an additional 89,463 shares in the last quarter. 61.57% of the stock is owned by institutional investors and hedge funds.

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.

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