Allient (NASDAQ:ALNT) Raised to “Outperform” at Northland Securities

Northland Securities upgraded shares of Allient (NASDAQ:ALNT) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage currently has $35.00 target price on the stock, up from their previous target price of $30.00.

Allient Stock Up 2.9 %

Shares of NASDAQ ALNT opened at $26.69 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10. The firm has a market capitalization of $449.59 million, a price-to-earnings ratio of 30.33 and a beta of 1.61. The stock has a 50 day moving average price of $25.17 and a 200 day moving average price of $22.58. Allient has a 52-week low of $16.91 and a 52-week high of $36.33.

Institutional Trading of Allient

A number of large investors have recently modified their holdings of ALNT. New York State Teachers Retirement System purchased a new stake in shares of Allient in the fourth quarter valued at approximately $32,000. Point72 DIFC Ltd purchased a new stake in shares of Allient in the third quarter valued at approximately $33,000. Hurley Capital LLC purchased a new stake in shares of Allient in the fourth quarter valued at approximately $38,000. Copeland Capital Management LLC purchased a new stake in shares of Allient in the third quarter valued at approximately $50,000. Finally, Pathway Financial Advisers LLC boosted its holdings in shares of Allient by 1,798.7% in the third quarter. Pathway Financial Advisers LLC now owns 2,924 shares of the company’s stock valued at $56,000 after purchasing an additional 2,770 shares during the period. Hedge funds and other 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.