Allient (NASDAQ:ALNT) Sets New 12-Month High – Time to Buy?

Allient Inc. (NASDAQ:ALNT)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $70.00 and last traded at $68.87, with a volume of 300591 shares trading hands. The stock had previously closed at $65.74.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALNT. JPMorgan Chase & Co. started coverage on Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 price objective for the company. Roth Mkm raised their price target on Allient from $49.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 14th. Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Allient has a consensus rating of “Hold” and an average price target of $50.33.

Allient Stock Performance

The company has a fifty day moving average price of $58.36 and a two-hundred day moving average price of $51.31. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 61.49 and a beta of 1.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01.

Insider Activity

In related news, VP Ashish Bendre sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total value of $836,000.00. Following the sale, the vice president directly owned 23,166 shares in the company, valued at $1,210,423.50. The trade was a 40.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALNT. Portolan Capital Management LLC acquired a new stake in shares of Allient during the 3rd quarter valued at $11,530,000. AIGH Capital Management LLC acquired a new position in shares of Allient in the 2nd quarter worth $7,262,000. Jennison Associates LLC acquired a new stake in shares of Allient during the fourth quarter worth $8,982,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Allient during the third quarter valued at $6,656,000. Finally, Marshall Wace LLP lifted its holdings in shares of Allient by 1,291.3% during the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after purchasing an additional 142,763 shares during the last quarter. 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.