Brokerages Set Allient Inc. (NASDAQ:ALNT) PT at $50.33

Shares of Allient Inc. (NASDAQ:ALNT) have received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $57.50.

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Lake Street Capital started coverage on shares of Allient in a research note on Wednesday. They issued a “buy” rating and a $79.00 target price on the stock. Finally, Roth Mkm boosted their price objective on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 14th.

Insider Activity

In other news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total transaction of $836,000.00. Following the completion of the transaction, the vice president owned 23,166 shares of the company’s stock, valued at approximately $1,210,423.50. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Allient

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners lifted its position 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 position in shares of Allient in the third quarter valued at $34,000. Cullen Frost Bankers Inc. lifted its position in Allient by 173.0% in the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after purchasing an additional 633 shares during the period. Larson Financial Group LLC boosted its stake in Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after buying an additional 413 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Allient in the 3rd quarter valued at $41,000. 61.57% of the stock is currently owned by institutional investors.

Allient Stock Up 1.2%

Shares of NASDAQ:ALNT opened at $68.37 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. The company has a market cap of $1.16 billion, a PE ratio of 61.04 and a beta of 1.53. Allient has a 52 week low of $19.25 and a 52 week high of $70.00. The firm has a 50 day simple moving average of $60.43 and a 200 day simple moving average of $52.84.

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.