Allient Inc. (NASDAQ:ALNT) Stock Has Average Price Target of $84.00 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Allient, with four buy ratings and two holds. The average 12-month price target is $84.00.
• Allient reported quarterly EPS of $0.80, beating the $0.61 consensus estimate, while revenue of $153.77 million also exceeded expectations.
• Institutional ownership increased as BlackRock and other major investors acquired or expanded stakes, though CEO Richard Warzala sold 70,000 shares at an average price of $113.58.

Allient Inc. (NASDAQ:ALNT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $84.00.

A number of brokerages have weighed in on ALNT. JPMorgan Chase & Co. cut shares of Allient from an "overweight" rating to a "neutral" rating and set a $120.00 price target on the stock. in a research report on Tuesday, October 13th. Weiss Ratings upgraded shares of Allient from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Zacks Research lowered shares of Allient from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen lowered Allient from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 19th.

Allient Stock Performance

NASDAQ ALNT opened at $87.66 on Monday. The business's 50-day moving average price is $101.08 and its 200 day moving average price is $89.72. The company has a current ratio of 3.42, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Allient has a twelve month low of $44.30 and a twelve month high of $121.42. The company has a market capitalization of $1.49 billion, a PE ratio of 51.57 and a beta of 1.58.

Allient (NASDAQ:ALNT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 4.98% and a return on equity of 13.55%. On average, research analysts predict that Allient will post 2.72 earnings per share for the current year.

Allient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Allient's payout ratio is currently 9.41%.

Insider Buying and Selling

In related news, CEO Richard Warzala sold 70,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were 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 $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 Securities & Exchange Commission, which is available at the SEC website. 15.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALNT. BlackRock Inc. acquired a new stake in shares of Allient in the second quarter worth $128,774,000. Jennison Associates LLC boosted its position in Allient by 111.5% in the first 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 in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Allient during the second quarter worth $9,051,000. Deutsche Bank AG acquired a new stake in Allient in the 2nd quarter valued at about $6,813,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in Allient in the 2nd quarter worth approximately $3,992,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.

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.