Allient (NASDAQ:ALNT) Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Allient from “strong buy” to “buy,” though the broader analyst consensus remains “Buy” with a $84.00 target price.
• Allient reported stronger-than-expected quarterly results, posting $0.80 in EPS versus the $0.61 consensus estimate and revenue of $153.77 million compared with expectations of $145.68 million.
• The stock opened at $100.49, near its 52-week high of $118.67. CEO Richard Warzala sold 70,000 shares, while institutional investors—including BlackRock—held 61.57% of the company.

Allient (NASDAQ:ALNT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the stock. Weiss Ratings raised shares of Allient from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. increased their price objective on shares of Allient from $95.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded Allient from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, Allient presently has an average rating of "Buy" and a consensus target price of $84.00.

Allient Stock Performance

Shares of NASDAQ:ALNT opened at $100.49 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95. The business's 50 day moving average price is $95.26 and its 200-day moving average price is $81.87. The firm has a market capitalization of $1.71 billion, a PE ratio of 59.11 and a beta of 1.62. Allient has a 1 year low of $41.75 and a 1 year high of $118.67.

Allient (NASDAQ:ALNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.61 by $0.19. The firm had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. As a group, equities research analysts expect that Allient will post 2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the sale, the chief executive officer directly owned 1,499,106 shares of the company's stock, valued at approximately $170,268,459.48. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.00% of the company's stock.

Hedge Funds Weigh In On Allient

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Allient in the second quarter valued at approximately $128,774,000. Jennison Associates LLC raised its holdings in shares of Allient by 111.5% in the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company's stock valued at $20,884,000 after buying an additional 186,316 shares during the period. Bank of New York Mellon Corp acquired a new position in Allient during the 2nd quarter worth about $9,051,000. Telemark Asset Management LLC acquired a new position in Allient in the 4th quarter valued at about $8,062,000. Finally, Deutsche Bank AG purchased a new stake in Allient during the second quarter worth about $6,813,000. Hedge funds and other institutional investors own 61.57% of the company's stock.

About Allient

Allient Inc NASDAQ: ALNT is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.

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