Northland Securities Upgrades Allient (NASDAQ:ALNT) to Outperform

Allient (NASDAQ:ALNT) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $35.00 target price on the stock, up from their prior target price of $30.00. Northland Securities’ price target would suggest a potential upside of 42.39% from the stock’s previous close.

Allient Stock Up 1.5 %

ALNT opened at $24.58 on Tuesday. The stock has a market cap of $413.93 million, a price-to-earnings ratio of 27.93 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. The firm’s fifty day moving average is $25.22 and its 200 day moving average is $22.59. Allient has a fifty-two week low of $16.91 and a fifty-two week high of $36.33.

Hedge Funds Weigh In On Allient

A number of hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System purchased a new position in Allient in the 4th quarter worth approximately $32,000. Point72 DIFC Ltd bought a new stake in shares of Allient during the third quarter valued at approximately $33,000. Copeland Capital Management LLC purchased a new position in shares of Allient in the third quarter worth $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 purchased a new position in Allient during the fourth quarter valued at $118,000. Institutional investors own 61.57% of the company’s stock.

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.