Allient (NASDAQ:ALNT) Posts Earnings Results, Beats Expectations By $0.33 EPS

Allient (NASDAQ:ALNT) issued its quarterly earnings results on Wednesday. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33, FiscalAI reports. Allient had a return on equity of 13.55% and a net margin of 4.98%. The firm had revenue of $164.40 million during the quarter, compared to the consensus estimate of $155.25 million.

Allient Price Performance

Shares of Allient stock traded down $8.46 during midday trading on Wednesday, hitting $79.56. 405,341 shares of the company traded hands, compared to its average volume of 207,632. The firm’s fifty day moving average price is $99.28 and its 200-day moving average price is $82.72. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 36.07 and a beta of 1.62. Allient has a 12 month low of $44.30 and a 12 month high of $121.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ALNT shares. Wall Street Zen lowered shares of Allient from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 19th. Weiss Ratings cut Allient from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. JPMorgan Chase & Co. cut Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, October 13th. Finally, Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Insider Activity at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the transaction, the chief executive officer directly owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.00% of the stock is currently owned by insiders.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.