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

Northland Capmk upgraded shares of Allient (NASDAQ:ALNT) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

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

Allient Stock Up 8.8 %

Shares of ALNT opened at $26.75 on Tuesday. The firm has a market cap of $450.47 million, a P/E ratio of 30.40 and a beta of 1.61. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10. Allient has a 52 week low of $16.91 and a 52 week high of $36.33. The firm’s 50-day simple moving average is $25.18 and its 200 day simple moving average is $22.57.

Hedge Funds Weigh In On Allient

A number of hedge funds have recently bought and sold shares of the business. Meixler Investment Management Ltd. boosted its stake in shares of Allient by 11.6% in the third quarter. Meixler Investment Management Ltd. now owns 11,287 shares of the company’s stock valued at $214,000 after buying an additional 1,172 shares during the period. New York State Teachers Retirement System acquired a new position in Allient in the 4th quarter valued at $32,000. Point72 DIFC Ltd bought a new stake in shares of Allient during the 3rd quarter valued at $33,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Allient by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 72,179 shares of the company’s stock worth $1,753,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Pullen Investment Management LLC increased its position in shares of Allient by 14.7% in the third quarter. Pullen Investment Management LLC now owns 15,546 shares of the company’s stock worth $295,000 after purchasing an additional 1,991 shares during the period. 61.57% of the stock is 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.