Allient (NASDAQ:ALNT) Given New $30.00 Price Target at Craig Hallum

Allient (NASDAQ:ALNT) had its price target reduced by Craig Hallum from $41.00 to $30.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Roth Mkm lowered their price target on shares of Allient from $42.00 to $39.00 and set a buy rating on the stock in a report on Wednesday, May 22nd.

Allient Stock Performance

Shares of NASDAQ ALNT traded up $0.14 during midday trading on Friday, hitting $20.60. 211,580 shares of the company’s stock traded hands, compared to its average volume of 82,446. The firm has a fifty day moving average of $25.86 and a 200 day moving average of $28.64. Allient has a 1 year low of $19.03 and a 1 year high of $36.33. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.85 and a current ratio of 3.56. The stock has a market capitalization of $345.59 million, a price-to-earnings ratio of 13.64 and a beta of 1.56.

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

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.58%. Allient’s dividend payout ratio (DPR) is presently 7.95%.

Hedge Funds Weigh In On Allient

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Allient by 798.2% in the second quarter. CWM LLC now owns 1,006 shares of the company’s stock worth $25,000 after purchasing an additional 894 shares during the last quarter. Isthmus Partners LLC lifted its stake in shares of Allient by 0.7% during the 2nd quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock worth $25,000 after acquiring an additional 653 shares during the last quarter. Shell Asset Management Co. purchased a new position in Allient during the 1st quarter valued at $35,000. New York State Teachers Retirement System bought a new position in Allient in the 1st quarter valued at $41,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Allient in the first quarter worth $49,000. 61.57% of the stock is currently owned by 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.