Allient (NASDAQ:ALNT) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Allient (NASDAQ:ALNT) released its earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10, Zacks reports. The firm had revenue of $125.21 million during the quarter, compared to analyst estimates of $124.28 million. Allient had a net margin of 3.35% and a return on equity of 13.04%. During the same quarter in the previous year, the business earned $0.61 EPS.

Allient Stock Performance

ALNT stock traded up $1.34 during midday trading on Thursday, hitting $21.82. The stock had a trading volume of 347,009 shares, compared to its average volume of 98,420. Allient has a 52 week low of $16.91 and a 52 week high of $36.33. The company has a current ratio of 3.90, a quick ratio of 2.00 and a debt-to-equity ratio of 0.89. The stock has a 50-day simple moving average of $19.01 and a 200 day simple moving average of $23.65. The firm has a market capitalization of $367.45 million, a price-to-earnings ratio of 18.81 and a beta of 1.51.

Wall Street Analysts Forecast Growth

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

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.