Allient (NASDAQ:ALNT) Rating Lowered to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Allient from “overweight” to “neutral” while setting a $120 price target, implying 12.8% upside from the prior close.
• Analyst sentiment remains generally positive, with four Buy ratings and two Hold ratings resulting in a “Moderate Buy” consensus and an average target price of $84.
• Allient exceeded quarterly expectations, reporting $0.80 in earnings per share versus $0.61 expected and revenue of $153.77 million versus $145.68 million projected.

Allient (NASDAQ:ALNT - Get Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $120.00 price target on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 12.80% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Allient from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 19th. Zacks Research downgraded Allient from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised Allient from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $84.00.

Allient Stock Performance

ALNT opened at $106.38 on Tuesday. The company has a 50 day simple moving average of $103.52 and a two-hundred day simple moving average of $87.60. 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 firm has a market cap of $1.81 billion, a P/E ratio of 62.58 and a beta of 1.58. Allient has a 1-year low of $44.30 and a 1-year high of $121.42.

Allient (NASDAQ:ALNT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to analysts' expectations of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. Equities analysts forecast that Allient will post 2.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Richard Warzala sold 70,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $113.58, for a total value 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 $170,268,459.48. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Allient during the 2nd quarter worth about $128,774,000. Jennison Associates LLC raised its position in Allient by 111.5% in the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company's stock worth $20,884,000 after purchasing an additional 186,316 shares during the period. Bank of New York Mellon Corp purchased a new stake in Allient in the 2nd quarter worth about $9,051,000. Deutsche Bank AG bought a new stake in Allient in the second quarter worth about $6,813,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Allient in the second quarter worth about $3,992,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Company Profile

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.

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