Allient (NASDAQ:ALNT) Stock Price Up 11.3% Following Analyst Upgrade

Allient Inc. (NASDAQ:ALNT) shares rose 11.3% on Tuesday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $80.00 price target on the stock. Allient traded as high as $71.05 and last traded at $70.55. Approximately 46,096 shares were traded during trading, a decline of 75% from the average daily volume of 182,339 shares. The stock had previously closed at $63.37.

A number of other equities analysts also recently commented on the stock. Weiss Ratings cut Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Lake Street Capital started coverage on Allient in a research report on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price target on the stock. Wall Street Zen lowered Allient from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Craig Hallum restated a “buy” rating and issued a $75.00 target price on shares of Allient in a research note on Monday, March 9th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $70.00 target price on shares of Allient in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.33.

Institutional Trading of Allient

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNT. Royal Bank of Canada raised its stake in shares of Allient by 19.8% in the first quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after acquiring an additional 18,416 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Allient by 8.0% during the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after purchasing an additional 3,979 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Allient by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after purchasing an additional 390 shares in the last quarter. Empowered Funds LLC raised its position in Allient by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after purchasing an additional 3,458 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock worth $404,000 after purchasing an additional 1,663 shares during the last quarter. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Allient Stock Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 49.34 and a beta of 1.65. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $66.34 and a 200-day simple moving average of $61.48.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The business had revenue of $138.92 million for the quarter, compared to analyst estimates of $138.42 million. Analysts forecast that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. This is an increase from Allient’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, May 21st. Allient’s dividend payout ratio (DPR) is 11.19%.

Allient Company Profile

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.