JPMorgan Chase & Co. Issues Positive Forecast for Allient (NASDAQ:ALNT) Stock Price

Allient (NASDAQ:ALNT) had its price target hoisted by JPMorgan Chase & Co. from $95.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a report on Tuesday, May 26th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Wall Street Zen cut Allient from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Roth Capital reaffirmed a “buy” rating and issued a $70.00 target price on shares of Allient in a report on Friday, May 8th. Finally, Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Allient has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Allient Stock Up 1.4%

Shares of NASDAQ ALNT opened at $112.81 on Friday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 66.36 and a beta of 1.61. The stock’s fifty day moving average is $91.18 and its 200 day moving average is $74.73. Allient has a 52 week low of $40.49 and a 52 week high of $117.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.15 and a current ratio of 3.42.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19. The business had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. Sell-side analysts forecast that Allient will post 2.47 earnings per share for the current fiscal year.

Allient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, August 19th. Allient’s dividend payout ratio is currently 9.41%.

Institutional Trading of Allient

Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in shares of Allient during the second quarter worth $25,000. Arax Advisory Partners increased its holdings in Allient by 113.9% in 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 bought a new position in Allient in the third quarter valued at about $34,000. Larson Financial Group LLC raised its position in Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after purchasing an additional 209 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.