Allient (NASDAQ:ALNT) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Key Points

• JPMorgan cut its Allient price target from $120 to $110 while maintaining a neutral rating; the new target implies 35.27% upside from the stock’s current price.
• Analyst views are mixed: three rate the stock Buy and three Hold, giving it a “Moderate Buy” consensus rating and an average price target of $82.33.
• Allient’s latest quarterly results beat estimates, with earnings of $1.07 per share versus $0.74 expected and revenue of $164.4 million versus $155.25 million expected.

Allient (NASDAQ:ALNT - Get Free Report) had its target price decreased by JPMorgan Chase & Co. from $120.00 to $110.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 35.27% from the stock's current price.

Several other research analysts also recently weighed in on ALNT. Wall Street Zen upgraded Allient from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Zacks Research cut Allient from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings downgraded shares of Allient from a "buy (b)" rating to a "hold (c+)" rating in a report on Monday, October 26th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.33.

Allient Stock Performance

NASDAQ ALNT opened at $81.32 on Friday. The company has a current ratio of 3.49, a quick ratio of 1.99 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $98.64 and a 200 day simple moving average of $82.89. Allient has a 12 month low of $48.12 and a 12 month high of $121.42. The firm has a market capitalization of $1.38 billion, a P/E ratio of 36.63 and a beta of 1.62.

Allient (NASDAQ:ALNT - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.33. The firm had revenue of $164.40 million for the quarter, compared to the consensus estimate of $155.25 million. Allient had a return on equity of 15.80% and a net margin of 6.24%. On average, analysts predict that Allient will post 2.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Allient

A number of institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc bought a new stake in shares of Allient in the 3rd quarter worth approximately $2,991,000. Russell Investments Group Ltd. grew its holdings in shares of Allient by 26.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 49,237 shares of the company's stock valued at $5,495,000 after purchasing an additional 10,216 shares during the last quarter. Lisanti Capital Growth LLC grew its holdings in shares of Allient by 78.6% during the 3rd quarter. Lisanti Capital Growth LLC now owns 55,170 shares of the company's stock valued at $6,157,000 after purchasing an additional 24,280 shares during the last quarter. Ethic Inc. bought a new position in shares of Allient during the 3rd quarter valued at $363,000. Finally, Kornitzer Capital Management Inc. KS raised its position in Allient by 16.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 59,059 shares of the company's stock worth $6,591,000 after purchasing an additional 8,534 shares during the period. 61.57% of the stock is currently owned by institutional investors.

Allient Company Profile

Allient Inc NASDAQ: ALNT designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.

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