Allient (NASDAQ:ALNT) Upgraded to “Strong-Buy” at Northland Capmk

Allient (NASDAQ:ALNT) was upgraded by analysts at Northland Capmk from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Northland Securities raised shares of Allient from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $35.00 in a report on Tuesday.

Allient Stock Up 8.8 %

NASDAQ ALNT opened at $26.75 on Tuesday. Allient has a 12 month low of $16.91 and a 12 month high of $36.33. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85. The stock has a market cap of $450.47 million, a PE ratio of 30.40 and a beta of 1.61. The stock’s 50 day moving average is $25.18 and its 200 day moving average is $22.57.

Institutional Investors Weigh In On Allient

A number of hedge funds have recently made changes to their positions in the company. Meixler Investment Management Ltd. increased its stake in Allient by 11.6% in the 3rd quarter. Meixler Investment Management Ltd. now owns 11,287 shares of the company’s stock worth $214,000 after acquiring an additional 1,172 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Allient in the fourth quarter valued at $32,000. Point72 DIFC Ltd bought a new stake in Allient in the third quarter worth $33,000. Charles Schwab Investment Management Inc. raised its stake in Allient by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 72,179 shares of the company’s stock valued at $1,753,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Pullen Investment Management LLC lifted its position in Allient by 14.7% during the third quarter. Pullen Investment Management LLC now owns 15,546 shares of the company’s stock valued at $295,000 after purchasing an additional 1,991 shares during the last quarter. 61.57% of the stock is currently 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.