Allient (NASDAQ:ALNT) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Allient Inc. (NASDAQ:ALNT) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $83.42 and traded as low as $76.68. Allient shares last traded at $77.68, with a volume of 430,006 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on ALNT. Wall Street Zen raised shares of Allient from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of Allient from $120.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, November 6th. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Zacks Research upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, November 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Allient has an average rating of “Moderate Buy” and an average price target of $82.33.

Allient Stock Down 8.0%

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 34.99 and a beta of 1.62. The company has a current ratio of 3.49, a quick ratio of 1.99 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $97.99 and its 200-day moving average price is $83.42.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.33. Allient had a return on equity of 15.80% and a net margin of 6.24%. The firm had revenue of $164.40 million during the quarter, compared to the consensus estimate of $155.25 million. On average, sell-side analysts expect that Allient Inc. will post 3.08 earnings per share for the current year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s payout ratio is 7.21%.

Hedge Funds Weigh In On Allient

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC acquired a new stake in shares of Allient during the 3rd quarter worth approximately $1,261,000. Meeder Asset Management Inc. lifted its position in shares of Allient by 211.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 767 shares of the company’s stock valued at $86,000 after acquiring an additional 521 shares during the period. HighTower Advisors LLC acquired a new position in shares of Allient during the 3rd quarter valued at $224,000. White Pine Capital LLC bought a new position in Allient during the third quarter worth $1,414,000. Finally, Aberdeen Group plc bought a new position in Allient during the third quarter worth $2,991,000. 61.57% of the stock is currently owned by institutional investors.

Allient Company Profile

Allient Inc. designs and manufactures precision and specialty motion-control and power solutions. Its products include motors, gear motors, motion controllers, drives, encoders, actuators and integrated systems that help equipment move and operate with precision. The company serves a range of markets, including medical, aerospace and defense, industrial automation, robotics, transportation and energy. Allient operates internationally, with customers and operations across North America, Europe and Asia.