Allient (NASDAQ:ALNT) Hits New 1-Year High - Should You Buy?

Key Points

• Allient Inc. (NASDAQ:ALNT) reached a new 52-week high of $54.43, following a significant increase in its stock price of 6.7%.
• Analysts have rated Allient with a consensus "Hold" and set a target price of $47.50, despite JPMorgan Chase & Co. assigning a neutral rating with a higher target of $60.00.
• Allient declared a quarterly dividend of $0.03 per share, with a dividend yield of 0.2% and a payout ratio of 13.95%.

Shares of Allient Inc. (NASDAQ:ALNT - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $54.23 and last traded at $54.43, with a volume of 55682 shares. The stock had previously closed at $51.00.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. began coverage on Allient in a report on Monday. They set a "neutral" rating and a $60.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Allient in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Allient currently has an average rating of "Hold" and a consensus target price of $47.50.

Allient Stock Up 6.7%

The firm has a 50 day simple moving average of $46.12 and a two-hundred day simple moving average of $36.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17. The stock has a market cap of $922.50 million, a price-to-earnings ratio of 63.28 and a beta of 1.51.

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

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, August 21st. Allient's dividend payout ratio is 13.95%.

Institutional Investors Weigh In On Allient

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Allient in the third quarter worth about $204,000. Farther Finance Advisors LLC bought a new stake in shares of Allient in the third quarter worth about $122,000. USA Financial Formulas bought a new position in shares of Allient during the third quarter worth about $109,000. Assenagon Asset Management S.A. bought a new position in shares of Allient during the third quarter worth about $495,000. Finally, State of Wyoming bought a new position in shares of Allient during the second quarter worth about $93,000. 61.57% of the stock is currently owned by institutional investors.

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.

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