Allient Inc. (NASDAQ:ALNT) Stock Rated "Buy" by Wall Street Analysts

Key Points

• Allient has a consensus “Buy” rating from six analysts, with four Buy ratings, one Strong Buy, and one Hold. The average 12-month price target is $84, below the stock’s reported $111.60 price.
• Allient exceeded quarterly expectations, reporting $0.80 in EPS versus the $0.61 consensus and revenue of $153.77 million compared with estimates of $145.68 million.
• Institutional investors own 61.57% of the company, while CEO Richard Warzala sold 70,000 shares for about $7.95 million; Allient also pays a quarterly dividend of $0.04 per share.

Allient Inc. (NASDAQ:ALNT - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $84.00.

A number of analysts recently weighed in on ALNT shares. Zacks Research raised shares of Allient from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Weiss Ratings cut shares of Allient from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, September 21st. Wall Street Zen downgraded Allient from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 19th. Finally, JPMorgan Chase & Co. lifted 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.

Insider Activity at Allient

In other news, CEO Richard Warzala sold 70,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 1,499,106 shares of the company's stock, valued at approximately $170,268,459.48. The trade was a 4.46% decrease in their ownership of the stock. 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 Investors Weigh In On Allient

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Allient in the 2nd quarter worth $128,774,000. Jennison Associates LLC lifted its holdings in shares of Allient by 111.5% during the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company's stock worth $20,884,000 after acquiring an additional 186,316 shares during the last quarter. Telemark Asset Management LLC purchased a new position in Allient in the fourth quarter worth $8,062,000. Bank of New York Mellon Corp purchased a new position in Allient in the second quarter worth $9,051,000. Finally, Deutsche Bank AG bought a new position in Allient in the second quarter valued at $6,813,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Stock Down 0.4%

ALNT stock opened at $111.60 on Thursday. The stock has a 50-day simple moving average of $99.12 and a two-hundred day simple moving average of $84.73. Allient has a twelve month low of $41.75 and a twelve month high of $118.67. The firm has a market capitalization of $1.90 billion, a PE ratio of 65.65 and a beta of 1.62. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56.

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

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, August 19th. Allient's dividend payout ratio (DPR) is 9.41%.

About Allient

Allient Inc NASDAQ: ALNT is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.

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