JPMorgan Chase & Co. Cuts Allient (NASDAQ:ALNT) Price Target to $65.00

Key Points

• JPMorgan Chase & Co. lowered its price target on Allient to $65 from $70, while keeping a neutral rating on the stock.
• Other analysts remain mixed on Allient, with several buy ratings in place and an average Moderate Buy consensus price target of $72.
• Allient recently reported Q1 earnings of $0.50 per share, missing estimates, though revenue of $138.92 million came in slightly above expectations.

Allient (NASDAQ:ALNT - Get Free Report) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $70.00 to $65.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 1.60% from the company's previous close.

A number of other equities analysts also recently weighed in on ALNT. Roth Mkm reaffirmed a "buy" rating on shares of Allient in a research note on Friday. Lake Street Capital assumed coverage on shares of Allient in a research note on Wednesday, February 18th. They issued a "buy" rating and a $79.00 target price for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Allient in a research note on Wednesday, January 21st. Finally, Craig Hallum reissued a "buy" rating and set a $75.00 price target on shares of Allient in a research note on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $72.00.

Allient Price Performance

Shares of NASDAQ ALNT traded up $0.26 during trading on Friday, reaching $66.06. The company had a trading volume of 206,670 shares, compared to its average volume of 175,065. Allient has a 52 week low of $27.00 and a 52 week high of $80.39. The stock has a market cap of $1.12 billion, a PE ratio of 45.96 and a beta of 1.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.08 and a current ratio of 3.66. The business's 50 day moving average price is $66.64 and its 200-day moving average price is $60.72.

Allient (NASDAQ:ALNT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.05). Allient had a return on equity of 12.58% and a net margin of 4.25%.The company had revenue of $138.92 million during the quarter, compared to the consensus estimate of $138.42 million. Analysts expect that Allient will post 2.58 earnings per share for the current year.

Institutional Investors Weigh In On Allient

Institutional investors and hedge funds have recently modified their holdings of the business. Arax Advisory Partners raised its stake in shares of Allient by 113.9% during the fourth quarter. Arax Advisory Partners now owns 494 shares of the company's stock worth $27,000 after buying an additional 263 shares during the last quarter. Larson Financial Group LLC grew its holdings in Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company's stock valued at $37,000 after purchasing an additional 413 shares during the period. Advisory Services Network LLC acquired a new position in Allient during the third quarter valued at approximately $34,000. State of Alaska Department of Revenue acquired a new position in Allient during the third quarter valued at approximately $41,000. Finally, Cullen Frost Bankers Inc. grew its holdings in Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company's stock valued at $62,000 after purchasing an additional 209 shares during the period. 61.57% of the stock is owned by institutional investors.

About Allient

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.

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