Allient (NASDAQ:ALNT) Sets New 52-Week High - Time to Buy?

Key Points

• Shares hit a new 52-week high, trading as high as $74.16 and last at $74.7450, up from the prior close of $70.39 on volume of 26,732 shares.
• Analyst coverage is mixed: three Buy and four Hold ratings yield an average rating of "Hold" and an average price target of $63.60, though some firms have targets up to $79.
• Recent results and fundamentals: Allient beat quarterly estimates (EPS $0.55 vs $0.46; revenue $143.35M vs $133.33M), has a $1.27B market cap and a high P/E of 56.36, plus a small annualized dividend yield of 0.2%.

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $74.16 and last traded at $74.7450, with a volume of 26732 shares trading hands. The stock had previously closed at $70.39.

Analysts Set New Price Targets

ALNT has been the subject of a number of analyst reports. Zacks Research lowered shares of Allient from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 1st. Craig Hallum restated a "buy" rating and set a $75.00 price objective on shares of Allient in a research note on Monday, March 9th. Weiss Ratings restated a "hold (c)" rating on shares of Allient in a research note on Wednesday, January 21st. Lake Street Capital initiated coverage on shares of Allient in a research note on Wednesday, February 18th. They set a "buy" rating and a $79.00 price objective for the company. Finally, Roth Mkm raised their price objective on shares of Allient from $56.00 to $69.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Allient currently has an average rating of "Hold" and an average price target of $63.60.

Allient Stock Performance

The business's fifty day moving average price is $64.84 and its 200-day moving average price is $58.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.08 and a current ratio of 3.66. The stock has a market cap of $1.27 billion, a PE ratio of 56.36 and a beta of 1.53.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.09. The firm had revenue of $143.35 million for the quarter, compared to the consensus estimate of $133.33 million. Allient had a net margin of 3.97% and a return on equity of 12.53%. As a group, equities research analysts forecast that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

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

Institutional Trading of Allient

Institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new stake in shares of Allient during the 3rd quarter valued at about $3,196,000. Principal Financial Group Inc. purchased a new stake in shares of Allient during the 3rd quarter valued at about $647,000. Handelsbanken Fonder AB purchased a new stake in shares of Allient during the 3rd quarter valued at about $5,888,000. Assenagon Asset Management S.A. purchased a new stake in shares of Allient during the 3rd quarter valued at about $495,000. Finally, Portolan Capital Management LLC purchased a new stake in shares of Allient during the 3rd quarter valued at about $11,530,000. Hedge funds and other institutional investors own 61.57% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.