Wall Street Zen Upgrades Allient (NASDAQ:ALNT) to Strong-Buy

Key Points

• Wall Street Zen upgraded Allient from “buy” to “strong-buy.” Other analyst views are mixed, leaving the stock with a “Moderate Buy” consensus rating and an $84 consensus price target.
• Allient reported quarterly EPS of $1.07, topping the $0.74 consensus estimate, while revenue of $164.4 million also exceeded expectations of $155.25 million.
• Shares were reported up 7.7%; the stock opened at $81.32, within a 52-week range of $48.12 to $121.42.

Allient (NASDAQ:ALNT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also commented on ALNT. JPMorgan Chase & Co. lowered Allient from an "overweight" rating to a "neutral" rating and set a $120.00 price target on the stock. in a report on Tuesday, October 13th. Zacks Research lowered shares of Allient from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings cut Allient from a "buy (b)" rating to a "hold (c+)" rating in a report on Monday, October 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Allient presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.00.

Allient Trading Up 7.7%

ALNT opened at $81.32 on Friday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 34.50 and a beta of 1.62. 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 has a 50 day simple moving average of $98.64 and a two-hundred day simple moving average of $82.89. Allient has a one year low of $48.12 and a one year high of $121.42.

Allient (NASDAQ:ALNT - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.33. Allient had a net margin of 4.98% and a return on equity of 13.55%. The firm had revenue of $164.40 million during the quarter, compared to analyst estimates of $155.25 million. Analysts predict that Allient will post 2.72 EPS for the current year.

Insider Transactions at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the transaction, the chief executive officer owned 1,499,106 shares of the company's stock, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 15.00% of the company's stock.

Hedge Funds Weigh In On Allient

Several hedge funds have recently made changes to their positions in ALNT. GAMMA Investing LLC lifted its holdings in Allient by 29.3% during the third quarter. GAMMA Investing LLC now owns 485 shares of the company's stock valued at $54,000 after purchasing an additional 110 shares in the last quarter. Smith Group Asset Management LLC lifted its stake in Allient by 1.7% in the 3rd quarter. Smith Group Asset Management LLC now owns 12,408 shares of the company's stock valued at $1,385,000 after buying an additional 207 shares in the last quarter. Jag Capital Management LLC grew its position in Allient by 5.1% in the first quarter. Jag Capital Management LLC now owns 5,107 shares of the company's stock valued at $302,000 after acquiring an additional 246 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Allient in the 2nd quarter worth approximately $25,000. Finally, Kilter Group LLC purchased a new position in shares of Allient during the second quarter valued at $37,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

About Allient

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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