Allient (NASDAQ:ALNT) Trading Up 9.8% - What's Next?

Key Points

• Allient shares surged 9.8% to about $110.30, reaching a session high of $109.13, despite trading volume running 40% below its average.
• Analyst sentiment remains positive: JPMorgan raised its price target to $120 and Zacks upgraded the stock to “strong buy,” while the broader consensus is “Buy” with an $84 target.
• Allient exceeded quarterly expectations, reporting $0.80 EPS versus the $0.61 estimate and revenue of $153.77 million versus $145.68 million expected. The company also pays a $0.04 quarterly dividend, while its CEO recently sold 70,000 shares.

Allient Inc. (NASDAQ:ALNT - Get Free Report) shares rose 9.8% on Monday . The stock traded as high as $109.13 and last traded at $110.2950. Approximately 133,698 shares were traded during mid-day trading, a decline of 40% from the average session volume of 223,637 shares. The stock had previously closed at $100.49.

Analysts Set New Price Targets

Several brokerages have recently commented on ALNT. JPMorgan Chase & Co. raised their target price on Allient from $95.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Zacks Research raised Allient from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Macquarie Infrastructure set a $80.00 price target on Allient in a report on Tuesday, May 26th. Wall Street Zen cut Allient from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Jefferies Financial Group set a $80.00 price objective on Allient in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $84.00.

Allient Price Performance

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's fifty day moving average price is $95.26 and its 200-day moving average price is $81.99. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 64.81 and a beta of 1.62.

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

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. Allient's payout ratio is presently 9.41%.

Insider Transactions at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.58, for a total value 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 approximately $170,268,459.48. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 15.00% of the company's stock.

Institutional Trading of Allient

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Allient in the 2nd quarter worth about $128,774,000. Jennison Associates LLC lifted its position 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 buying an additional 186,316 shares in the last quarter. Telemark Asset Management LLC purchased a new position in shares of Allient in the 4th quarter worth approximately $8,062,000. Bank of New York Mellon Corp bought a new position in shares of Allient in the second quarter valued at approximately $9,051,000. Finally, Deutsche Bank AG purchased a new stake in shares of Allient during the second quarter valued at approximately $6,813,000. Hedge funds and other institutional investors own 61.57% of the company's stock.

Allient Company Profile

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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