Allient (NASDAQ:ALNT) Hits New 12-Month High - Here's Why

Key Points

• Allient stock hit a new 52-week high of $77.39 on Friday (last trade ~$75.29) with ~42,576 shares changing hands, trading above its 50- and 200-day moving averages.
• Analyst coverage is mixed — three Buy and four Hold ratings leave a MarketBeat consensus of "Hold" with a $63.60 target, though Lake Street started coverage at a $79 target and Roth MKM recently raised its target to $69.
• The company reported an earnings beat (Q: $0.55 EPS vs. $0.46 est.; revenue $143.35M vs. $133.33M), shows strong liquidity (quick ratio 2.08, current ratio 3.66), a $1.3B market cap and pays a small quarterly dividend ($0.03, ~0.2% yield).

Allient Inc. (NASDAQ:ALNT - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $77.39 and last traded at $75.2850, with a volume of 42576 shares trading hands. The stock had previously closed at $76.18.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Lake Street Capital started coverage on Allient in a report on Wednesday, February 18th. They issued a "buy" rating and a $79.00 price objective for the company. Craig Hallum reissued a "buy" rating and set a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Allient in a research note on Wednesday, January 21st. Zacks Research cut shares of Allient from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 1st. Finally, Roth Mkm lifted their price target on shares of Allient from $56.00 to $69.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $63.60.

Allient Stock Performance

The company has a quick ratio of 2.08, a current ratio of 3.66 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.30 billion, a PE ratio of 57.70 and a beta of 1.53. The stock's fifty day moving average price is $66.25 and its two-hundred day moving average price is $60.09.

Allient (NASDAQ:ALNT - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.09. Allient had a return on equity of 12.53% and a net margin of 3.97%.The business had revenue of $143.35 million during the quarter, compared to analyst estimates of $133.33 million. Sell-side analysts anticipate that Allient Inc. will post 2.58 earnings per share for the current year.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 20th were issued a $0.03 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.12 annualized dividend and a yield of 0.2%. Allient's payout ratio is 9.09%.

Institutional Investors Weigh In On Allient

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arax Advisory Partners increased its position in shares of Allient by 113.9% during the fourth quarter. Arax Advisory Partners now owns 494 shares of the company's stock valued at $27,000 after buying an additional 263 shares during the period. Larson Financial Group LLC lifted its holdings in Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $37,000 after buying an additional 413 shares during the period. Advisory Services Network LLC bought a new stake in Allient during the 3rd quarter valued at approximately $34,000. State of Alaska Department of Revenue purchased a new position in shares of Allient during the 3rd quarter worth approximately $41,000. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Allient by 22.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company's stock worth $62,000 after acquiring an additional 209 shares during the period. 61.57% of the stock is owned by hedge funds and other 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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