Allient (NASDAQ:ALNT) Stock Rating Lowered by Zacks Research

Allient (NASDAQ:ALNT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in 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 target on the stock. Roth Capital raised their target price on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.33.

Allient Trading Up 3.4%

Shares of Allient stock opened at $55.58 on Thursday. The firm has a market cap of $941.53 million, a PE ratio of 49.63 and a beta of 1.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01. Allient has a 1 year low of $19.25 and a 1 year high of $58.13. The stock has a fifty day moving average price of $53.88 and a 200-day moving average price of $46.78.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALNT. Advisory Services Network LLC purchased a new stake in shares of Allient in the 3rd quarter valued at $34,000. Cullen Frost Bankers Inc. increased its position in shares of Allient by 173.0% during the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after acquiring an additional 633 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Allient in the third quarter valued at $41,000. New York State Teachers Retirement System purchased a new position in Allient in the third quarter valued at $58,000. Finally, Tower Research Capital LLC TRC boosted its stake in Allient by 162.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after acquiring an additional 1,355 shares in 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.