Northland Securities Upgrades Allient (NASDAQ:ALNT) to Outperform

Allient (NASDAQ:ALNT) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a $35.00 price target on the stock, up from their prior price target of $30.00. Northland Securities’ target price would suggest a potential upside of 34.93% from the stock’s previous close.

Allient Stock Down 3.0 %

Shares of Allient stock opened at $25.94 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 stock has a market capitalization of $436.83 million, a PE ratio of 29.48 and a beta of 1.61. Allient has a 52-week low of $16.91 and a 52-week high of $36.33. The company has a 50-day simple moving average of $25.18 and a two-hundred day simple moving average of $22.55.

Institutional Trading of Allient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System purchased a new stake in Allient during the fourth quarter valued at approximately $32,000. Point72 DIFC Ltd bought a new position in shares of Allient in the third quarter worth approximately $33,000. Copeland Capital Management LLC bought a new position in shares of Allient in the third quarter worth approximately $50,000. Pathway Financial Advisers LLC boosted its position in shares of Allient by 1,798.7% during the third quarter. Pathway Financial Advisers LLC now owns 2,924 shares of the company’s stock worth $56,000 after acquiring an additional 2,770 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in shares of Allient during the fourth quarter worth $118,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

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.