Allient (NASDAQ:ALNT) Issues Earnings Results

Allient (NASDAQ:ALNT) released its quarterly earnings data on Wednesday. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10, Zacks reports. The company had revenue of $125.21 million for the quarter, compared to analyst estimates of $124.28 million. Allient had a return on equity of 13.04% and a net margin of 3.35%. During the same period in the prior year, the company posted $0.61 EPS.

Allient Trading Up 6.5 %

NASDAQ ALNT traded up $1.34 during trading hours on Thursday, hitting $21.82. The company’s stock had a trading volume of 347,009 shares, compared to its average volume of 98,420. The stock has a fifty day moving average of $19.01 and a 200 day moving average of $23.65. The firm has a market capitalization of $367.45 million, a P/E ratio of 18.81 and a beta of 1.51. Allient has a twelve month low of $16.91 and a twelve month high of $36.33. The company has a quick ratio of 2.00, a current ratio of 3.90 and a debt-to-equity ratio of 0.89.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Roth Mkm lowered their price target on Allient from $39.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Craig Hallum reduced their price target on shares of Allient from $41.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Northland Securities dropped their target price on shares of Allient from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, August 9th.

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.