Allient (NASDAQ:ALNT) Given New $39.00 Price Target at Roth Mkm

Allient (NASDAQ:ALNT) had its price target decreased by investment analysts at Roth Mkm from $42.00 to $39.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target points to a potential upside of 36.03% from the stock’s current price.

Separately, Northland Securities reaffirmed a “market perform” rating and issued a $40.00 price objective (down from $45.00) on shares of Allient in a research note on Thursday, March 7th.

Allient Price Performance

Allient stock traded down $0.43 during midday trading on Wednesday, reaching $28.67. 16,925 shares of the company were exchanged, compared to its average volume of 61,120. The company has a market capitalization of $481.08 million, a price-to-earnings ratio of 18.99 and a beta of 1.64. The firm’s 50-day simple moving average is $31.35 and its 200-day simple moving average is $29.48. Allient has a 1 year low of $25.12 and a 1 year high of $40.59. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.85 and a current ratio of 3.56.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.30. The firm had revenue of $141.00 million for the quarter, compared to analyst estimates of $132.65 million. Allient had a return on equity of 15.26% and a net margin of 4.26%. On average, analysts anticipate that Allient will post 2.02 EPS for the current year.

Insider Activity

In related news, VP Ashish Bendre sold 20,382 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $33.89, for a total transaction of $690,745.98. Following the completion of the transaction, the vice president now owns 36,350 shares in the company, valued at approximately $1,231,901.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Ashish Bendre sold 20,382 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $33.89, for a total transaction of $690,745.98. Following the completion of the transaction, the vice president now owns 36,350 shares of the company’s stock, valued at $1,231,901.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael R. Leach sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $32.99, for a total value of $164,950.00. Following the transaction, the chief financial officer now directly owns 87,089 shares of the company’s stock, valued at approximately $2,873,066.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,382 shares of company stock worth $1,191,296. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allient

Hedge funds have recently bought and sold shares of the business. Shell Asset Management Co. purchased a new stake in Allient in the 1st quarter worth about $35,000. New York State Teachers Retirement System purchased a new stake in shares of Allient during the 1st quarter worth about $41,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Allient during the 1st quarter worth about $49,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Allient during the 1st quarter worth about $57,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Allient during the 1st quarter worth about $70,000. 61.57% of the stock is owned by hedge funds and other 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.