Allient (NASDAQ:ALNT) Price Target Raised to $56.00

Allient (NASDAQ:ALNT) had its price target hoisted by Roth Capital from $49.00 to $56.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also commented on ALNT. JPMorgan Chase & Co. started coverage on Allient in a research note on Monday, October 20th. They issued a “neutral” rating and a $60.00 target price for the company. Zacks Research upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.33.

Allient Stock Up 3.9%

ALNT stock opened at $53.00 on Friday. The company has a 50 day moving average price of $48.99 and a two-hundred day moving average price of $41.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.17 and a current ratio of 3.74. The stock has a market capitalization of $897.98 million, a P/E ratio of 61.63 and a beta of 1.51. Allient has a one year low of $19.25 and a one year high of $58.13.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, November 20th. Allient’s dividend payout ratio is presently 10.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its stake in Allient by 173.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after buying an additional 633 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Allient during the third quarter valued at approximately $41,000. CWM LLC lifted its holdings in Allient by 105.2% during the first quarter. CWM LLC now owns 1,890 shares of the company’s stock worth $42,000 after acquiring an additional 969 shares during the period. New York State Teachers Retirement System purchased a new position in Allient in the third quarter worth $58,000. Finally, Tower Research Capital LLC TRC grew its stake in Allient by 162.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after purchasing an additional 1,355 shares during the period. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.