Zacks Investment Research Upgrades Allied Motion Technologies (AMOT) to Strong-Buy

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Zacks Investment Research upgraded shares of Allied Motion Technologies (NASDAQ:AMOT) from a hold rating to a strong-buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $57.00 price objective on the technology company’s stock.

According to Zacks, “Hathaway Corporation is engaged in the business of designing, manufacturing and selling advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. The company’s power instrumentation products helps ensure that electric utilities provide high quality service to consumers of electricity. The company’s equipment assists the electric power system operators in operating and maintaining proper system performance. “

AMOT has been the topic of several other research reports. BidaskClub downgraded Allied Motion Technologies from a sell rating to a strong sell rating in a report on Thursday, September 6th. Craig Hallum set a $62.00 price target on Allied Motion Technologies and gave the stock a buy rating in a report on Friday, November 2nd. Finally, Dougherty & Co raised Allied Motion Technologies from a neutral rating to a buy rating in a report on Monday, October 29th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Allied Motion Technologies has an average rating of Buy and a consensus target price of $59.50.

Shares of NASDAQ AMOT opened at $47.65 on Wednesday. The company has a market capitalization of $470.60 million, a P/E ratio of 27.90, a P/E/G ratio of 2.67 and a beta of 2.19. Allied Motion Technologies has a 12-month low of $28.08 and a 12-month high of $55.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.44.

Allied Motion Technologies (NASDAQ:AMOT) last announced its quarterly earnings results on Wednesday, October 31st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.16. The business had revenue of $80.09 million for the quarter. Allied Motion Technologies had a return on equity of 17.59% and a net margin of 4.43%. On average, research analysts forecast that Allied Motion Technologies will post 1.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Wednesday, November 14th. Allied Motion Technologies’s payout ratio is currently 9.84%.

A number of institutional investors have recently made changes to their positions in AMOT. Dimensional Fund Advisors LP raised its stake in Allied Motion Technologies by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 430,304 shares of the technology company’s stock valued at $17,105,000 after acquiring an additional 5,457 shares in the last quarter. Millennium Management LLC raised its stake in Allied Motion Technologies by 4.7% during the 1st quarter. Millennium Management LLC now owns 108,008 shares of the technology company’s stock valued at $4,293,000 after acquiring an additional 4,800 shares in the last quarter. Acadian Asset Management LLC raised its stake in Allied Motion Technologies by 355.8% during the 2nd quarter. Acadian Asset Management LLC now owns 34,981 shares of the technology company’s stock valued at $1,674,000 after acquiring an additional 27,306 shares in the last quarter. Ramsey Quantitative Systems raised its stake in Allied Motion Technologies by 101.5% during the 2nd quarter. Ramsey Quantitative Systems now owns 4,957 shares of the technology company’s stock valued at $237,000 after acquiring an additional 2,497 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Allied Motion Technologies by 32.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,026 shares of the technology company’s stock valued at $432,000 after acquiring an additional 2,189 shares in the last quarter. 47.82% of the stock is currently owned by hedge funds and other institutional investors.

Allied Motion Technologies Company Profile

Allied Motion Technologies, Inc designs, manufactures, and sells precision and specialty motion control components and systems that are used in a range of industries worldwide. It provides automotive brushless (BL) DC motors, power steering solutions, and special purpose motors; fractional horsepower permanent magnet DC and BLDC motors serving a range of original equipment applications; and high performance BLDC motors, including servo motors, frameless motors, torque motors, slot less motors, high resolution encoders, and motor/encoder assemblies.

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