Allient (NASDAQ:ALNT) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Allient from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $84.
• Allient shares opened at $113.33 and were down 3.3%; the stock has risen near its 12-month high, with a market capitalization of approximately $1.93 billion and a P/E ratio of 66.67.
• The company exceeded quarterly expectations, reporting $0.80 in earnings per share versus a $0.61 estimate and revenue of $153.77 million versus $145.68 million expected. CEO Richard Warzala subsequently sold 70,000 shares for about $7.95 million.

Allient (NASDAQ:ALNT - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Several other equities analysts have also recently commented on ALNT. Weiss Ratings cut shares of Allient from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, September 21st. Wall Street Zen lowered Allient from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 19th. Finally, JPMorgan Chase & Co. upped their price objective on Allient from $95.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Allient currently has a consensus rating of "Moderate Buy" and an average target price of $84.00.

Allient Trading Down 3.3%

ALNT opened at $113.33 on Tuesday. Allient has a 12-month low of $42.42 and a 12-month high of $121.42. 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 stock has a market capitalization of $1.93 billion, a PE ratio of 66.67 and a beta of 1.58. The firm's fifty day moving average price is $102.30 and its 200 day moving average price is $86.64.

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

Insider Buying and Selling at Allient

In other news, CEO Richard Warzala sold 70,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This 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 the SEC website. Insiders own 15.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jag Capital Management LLC raised its position in shares of Allient by 5.1% during the first quarter. Jag Capital Management LLC now owns 5,107 shares of the company's stock worth $302,000 after purchasing an additional 246 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Allient in the 2nd quarter valued at $25,000. Kilter Group LLC purchased a new position in Allient in the 2nd quarter worth about $37,000. Bank of America Corp DE increased its stake in Allient by 3.3% in the 1st quarter. Bank of America Corp DE now owns 33,389 shares of the company's stock worth $1,973,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Allient by 10.3% during the 1st quarter. Quantinno Capital Management LP now owns 11,701 shares of the company's stock worth $691,000 after buying an additional 1,088 shares during the period. Institutional investors and hedge funds own 61.57% of the company's stock.

About Allient

Allient Inc NASDAQ: ALNT is a global manufacturer of precision and specialty motion-control products. The company designs and produces motors, motion controllers, drives, servo systems, electromechanical assemblies, and related components used to control movement and power in complex equipment.

Allient serves a range of markets, including medical equipment, aerospace and defense, industrial automation, robotics, vehicle systems, and other demanding applications. Its products are used in areas such as surgical and diagnostic equipment, factory automation, unmanned systems, and precision machinery.

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.