Allient (NASDAQ:ALNT) Rating Increased to Overweight at JPMorgan Chase & Co.

Allient (NASDAQ:ALNT) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday. The brokerage currently has a $80.00 price objective on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 26.24% from the stock’s previous close.

Several other brokerages also recently issued reports on ALNT. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Lake Street Capital initiated coverage on shares of Allient in a research report on Wednesday, February 18th. They set a “buy” rating and a $79.00 price objective on the stock. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a research report on Tuesday. Wall Street Zen downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Roth Mkm reissued a “buy” rating and set a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Allient currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

Allient Stock Performance

NASDAQ ALNT opened at $63.37 on Tuesday. Allient has a 12 month low of $29.57 and a 12 month high of $80.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 44.31 and a beta of 1.65. The firm’s fifty day moving average price is $66.34 and its 200 day moving average price is $61.48.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 earnings per share (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 analysts’ expectations of $138.42 million. On average, sell-side analysts expect that Allient will post 2.47 earnings per share for the current fiscal year.

Institutional Trading of Allient

Several hedge funds have recently made changes to their positions in ALNT. Arax Advisory Partners lifted its stake in shares of Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Allient in the 3rd quarter worth $34,000. Larson Financial Group LLC lifted its stake in shares of Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after acquiring an additional 413 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after acquiring an additional 209 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Allient in the 4th quarter worth $67,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

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.