Allient (NASDAQ:ALNT) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

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

Allient Stock Up 6.5 %

Shares of NASDAQ:ALNT traded up $1.34 during trading on Thursday, hitting $21.82. The stock had a trading volume of 347,009 shares, compared to its average volume of 98,420. The company has a quick ratio of 2.00, a current ratio of 3.90 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $367.45 million, a PE ratio of 18.81 and a beta of 1.51. The firm’s fifty day moving average is $19.01 and its 200 day moving average is $23.65. Allient has a 12 month low of $16.91 and a 12 month high of $36.33.

Wall Street Analysts Forecast Growth

ALNT has been the topic of several research analyst reports. Northland Securities reduced their target price on Allient from $35.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Roth Mkm reduced their price objective on shares of Allient from $39.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Craig Hallum dropped their target price on shares of Allient from $41.00 to $30.00 and set a “buy” rating for the company in a research report 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.