Allient (NASDAQ:ALNT) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Allient (NASDAQ:ALNT) has received a "hold (c)" rating from Weiss Ratings, while JPMorgan Chase issued a "neutral" rating with a price target of $60.00.
• The company reported a quarterly earnings per share (EPS) of $0.57, surpassing estimates, with revenues of $139.58 million against a consensus of $132.89 million.
• Institutional investors own 61.57% of Allient’s stock, indicating significant interest from large financial entities in the company.

Allient (NASDAQ:ALNT - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Separately, JPMorgan Chase & Co. started coverage on Allient in a research report on Monday. They issued a "neutral" rating and a $60.00 price target on the stock. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.50.

Allient Stock Performance

NASDAQ ALNT traded down $0.96 during trading on Friday, hitting $54.84. The company's stock had a trading volume of 138,871 shares, compared to its average volume of 134,464. The company has a quick ratio of 2.17, a current ratio of 3.74 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $46.35 and a 200 day moving average price of $37.13. The firm has a market cap of $929.37 million, a P/E ratio of 63.92 and a beta of 1.51. Allient has a 52 week low of $17.16 and a 52 week high of $57.00.

Allient (NASDAQ:ALNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. The company had revenue of $139.58 million for the quarter, compared to the consensus estimate of $132.89 million. Allient had a return on equity of 9.97% and a net margin of 2.75%. Equities research analysts forecast that Allient will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Allient

Several institutional investors have recently bought and sold shares of ALNT. Nuveen LLC acquired a new stake in Allient in the 1st quarter valued at $47,025,000. AIGH Capital Management LLC acquired a new stake in Allient in the 2nd quarter valued at $7,262,000. Seizert Capital Partners LLC acquired a new stake in Allient in the 1st quarter valued at $3,312,000. Pinnacle Associates Ltd. boosted its stake in Allient by 37.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 327,132 shares of the company's stock valued at $7,190,000 after buying an additional 89,463 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Allient by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 908,965 shares of the company's stock valued at $19,979,000 after buying an additional 65,061 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.