Allient (NASDAQ:ALNT) Price Target Raised to $69.00 at Roth Mkm

Allient (NASDAQ:ALNT) had its price objective upped by Roth Mkm from $56.00 to $69.00 in a research report report published on Monday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Craig Hallum reiterated a “buy” rating and set a $75.00 price target on shares of Allient in a report on Monday, March 9th. Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Lake Street Capital initiated coverage on Allient in a research note on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.60.

Allient Stock Performance

NASDAQ ALNT opened at $64.45 on Monday. The company has a current ratio of 3.66, a quick ratio of 2.08 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $63.46 and its two-hundred day moving average price is $55.24. Allient has a 1 year low of $19.25 and a 1 year high of $70.00. The firm has a market capitalization of $1.09 billion, a P/E ratio of 48.83 and a beta of 1.51.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. Allient had a net margin of 3.97% and a return on equity of 12.53%. The firm had revenue of $143.35 million during the quarter, compared to analysts’ expectations of $133.33 million. As a group, research analysts anticipate that Allient will post 1.43 EPS for the current year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 20th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, March 20th. Allient’s dividend payout ratio (DPR) is currently 9.09%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALNT. Portolan Capital Management LLC bought a new stake in Allient in the 3rd quarter valued at about $11,530,000. Jennison Associates LLC bought a new position in shares of Allient during the fourth quarter worth approximately $8,982,000. Telemark Asset Management LLC bought a new position in shares of Allient during the fourth quarter worth approximately $8,062,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Allient in the third quarter valued at approximately $6,656,000. Finally, Marshall Wace LLP raised its position in shares of Allient by 1,291.3% in the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after buying an additional 142,763 shares in the last quarter. 61.57% of the stock is owned by institutional investors and hedge funds.

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.