Allient (NASDAQ:ALNT) Price Target Cut to $30.00 by Analysts at Northland Securities

Allient (NASDAQ:ALNT) had its price objective reduced by Northland Securities from $35.00 to $30.00 in a report published on Friday morning, Benzinga reports. Northland Securities currently has a market perform rating on the stock.

Several other brokerages also recently weighed in on ALNT. Craig Hallum lowered their price target on shares of Allient from $41.00 to $30.00 and set a buy rating on the stock in a report on Friday. Roth Mkm lowered their target price on shares of Allient from $42.00 to $39.00 and set a buy rating on the stock in a research note on Wednesday, May 22nd.

Allient Stock Performance

Allient stock traded up $0.14 during trading on Friday, reaching $20.60. The company had a trading volume of 211,580 shares, compared to its average volume of 82,446. The firm has a market capitalization of $345.59 million, a price-to-earnings ratio of 13.64 and a beta of 1.56. The company has a current ratio of 3.56, a quick ratio of 1.85 and a debt-to-equity ratio of 0.90. The firm’s 50-day simple moving average is $25.86 and its 200 day simple moving average is $28.64. Allient has a 52 week low of $19.03 and a 52 week high of $36.33.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.11). The company had revenue of $136.03 million during the quarter, compared to the consensus estimate of $137.55 million. Allient had a return on equity of 15.26% and a net margin of 4.26%. During the same period last year, the business earned $0.58 EPS. Sell-side analysts forecast that Allient will post 1.85 earnings per share for the current fiscal year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 0.58%. Allient’s payout ratio is 7.95%.

Institutional Investors Weigh In On Allient

Several institutional investors and hedge funds have recently modified their holdings of ALNT. Pullen Investment Management LLC grew its stake in Allient by 3.2% during the second quarter. Pullen Investment Management LLC now owns 13,555 shares of the company’s stock valued at $343,000 after acquiring an additional 415 shares in the last quarter. Isthmus Partners LLC boosted its holdings in shares of Allient by 0.7% during the 2nd quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock valued at $25,000 after purchasing an additional 653 shares during the last quarter. CWM LLC grew its position in shares of Allient by 798.2% during the second quarter. CWM LLC now owns 1,006 shares of the company’s stock valued at $25,000 after purchasing an additional 894 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Allient in the first quarter worth about $35,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Allient in the first quarter worth about $41,000. Institutional investors own 61.57% of the company’s stock.

Allient Company Profile

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.