Roth Mkm Issues Positive Forecast for Allient (NASDAQ:ALNT) Stock Price

Allient (NASDAQ:ALNT) had its target price increased by stock analysts at Roth Mkm from $56.00 to $69.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective suggests a potential upside of 6.35% from the stock’s current price.

Several other analysts have also recently commented on ALNT. Lake Street Capital initiated coverage on shares of Allient in a research report on Wednesday, February 18th. They set a “buy” rating and a $79.00 target price for the company. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Finally, Craig Hallum restated a “buy” rating and issued a $75.00 target price on shares of Allient in a report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.60.

Allient Trading Up 4.1%

Shares of Allient stock traded up $2.54 during trading on Monday, hitting $64.88. The company’s stock had a trading volume of 105,166 shares, compared to its average volume of 172,576. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 49.15 and a beta of 1.51. Allient has a 52 week low of $19.25 and a 52 week high of $70.00. The stock has a 50-day moving average price of $63.34 and a two-hundred day moving average price of $55.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.66 and a quick ratio of 2.08.

Allient (NASDAQ:ALNT) last announced its earnings results on Thursday, March 5th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.09. Allient had a return on equity of 12.53% and a net margin of 3.97%.The business had revenue of $143.35 million during the quarter, compared to analyst estimates of $133.33 million. Equities research analysts anticipate that Allient will post 1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Allient

Several hedge funds and other institutional investors have recently bought and sold shares of ALNT. Arax Advisory Partners boosted its position in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after purchasing an additional 263 shares in the last quarter. Advisory Services Network LLC acquired a new position in Allient during the 3rd quarter worth approximately $34,000. Larson Financial Group LLC boosted its holdings in Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after acquiring an additional 413 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Allient in the third quarter worth approximately $41,000. Finally, New York State Teachers Retirement System acquired a new stake in Allient in the third quarter valued at approximately $58,000. 61.57% of the stock is owned by institutional investors.

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.