Allient (NASDAQ:ALNT) Posts Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• Allient exceeded quarterly expectations, reporting EPS of $0.80 versus the $0.61 consensus estimate and revenue of $153.77 million compared with expectations of $145.68 million.
• Shares fell 1.4% to $93.25 following the earnings release, despite the stock trading near its 52-week high and maintaining solid liquidity ratios.
• Institutional investors own 61.57% of Allient, with several major funds increasing their stakes. Analysts maintain a “Moderate Buy” consensus, though the average $79.83 price target is below the current share price.

Allient (NASDAQ:ALNT - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.19, FiscalAI reports. The company had revenue of $153.77 million during the quarter, compared to analysts' expectations of $145.68 million. Allient had a return on equity of 12.47% and a net margin of 4.25%.

Allient Stock Down 1.4%

Allient stock traded down $1.31 during midday trading on Wednesday, reaching $93.25. The company's stock had a trading volume of 208,637 shares, compared to its average volume of 218,981. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. Allient has a fifty-two week low of $38.24 and a fifty-two week high of $104.65. The company has a market cap of $1.59 billion, a P/E ratio of 65.21 and a beta of 1.61. The business has a 50-day simple moving average of $89.42 and a 200-day simple moving average of $73.89.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in shares of Allient by 1,291.3% during the third quarter. Marshall Wace LLP now owns 153,819 shares of the company's stock worth $6,883,000 after purchasing an additional 142,763 shares during the period. State Street Corp raised its holdings in shares of Allient by 32.5% in the fourth quarter. State Street Corp now owns 392,261 shares of the company's stock worth $21,084,000 after acquiring an additional 96,264 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Allient by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 984,815 shares of the company's stock worth $44,070,000 after purchasing an additional 66,552 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Allient by 210.2% during the 3rd quarter. Invesco Ltd. now owns 84,325 shares of the company's stock worth $3,774,000 after purchasing an additional 57,143 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Allient by 20.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company's stock valued at $13,009,000 after buying an additional 49,384 shares during the period. Institutional investors and hedge funds own 61.57% of the company's stock.

Analyst Upgrades and Downgrades

ALNT has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Allient from $80.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Roth Capital reiterated a "buy" rating and issued a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Jefferies Financial Group set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 target price on Allient in a research report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of Allient from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $79.83.

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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