Allied Motion Technologies (NASDAQ:AMOT) Stock Rating Lowered by BidaskClub

Allied Motion Technologies (NASDAQ:AMOT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

Several other research analysts also recently weighed in on AMOT. Zacks Investment Research upgraded shares of Allied Motion Technologies from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. Dougherty & Co reiterated a “buy” rating on shares of Allied Motion Technologies in a report on Monday, November 4th. Finally, ValuEngine upgraded shares of Allied Motion Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.00.

AMOT opened at $43.21 on Friday. Allied Motion Technologies has a twelve month low of $30.98 and a twelve month high of $52.20. The company has a quick ratio of 1.42, a current ratio of 2.49 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average price of $38.16 and a 200 day moving average price of $36.68. The company has a market cap of $416.45 million, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.51 and a beta of 1.52.

Allied Motion Technologies (NASDAQ:AMOT) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.09. Allied Motion Technologies had a net margin of 4.53% and a return on equity of 15.67%. The firm had revenue of $96.63 million during the quarter. As a group, sell-side analysts expect that Allied Motion Technologies will post 1.73 earnings per share for the current year.

In other Allied Motion Technologies news, Director Richard D. /Co/ Smith sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $40.67, for a total value of $813,400.00. Following the completion of the sale, the director now owns 1,887 shares in the company, valued at approximately $76,744.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. /Co/ Smith sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $45.48, for a total transaction of $227,400.00. Following the completion of the sale, the director now directly owns 1,887 shares of the company’s stock, valued at approximately $85,820.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,300 shares of company stock valued at $1,652,455. 23.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Allied Motion Technologies by 9.0% in the 2nd quarter. Vanguard Group Inc. now owns 392,875 shares of the technology company’s stock valued at $14,890,000 after buying an additional 32,525 shares during the period. Investment Management of Virginia LLC grew its stake in shares of Allied Motion Technologies by 221.1% in the 2nd quarter. Investment Management of Virginia LLC now owns 158,246 shares of the technology company’s stock valued at $5,997,000 after buying an additional 108,956 shares during the period. Confluence Investment Management LLC grew its stake in shares of Allied Motion Technologies by 12.4% in the 2nd quarter. Confluence Investment Management LLC now owns 154,297 shares of the technology company’s stock valued at $5,848,000 after buying an additional 16,972 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Allied Motion Technologies by 35.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 132,147 shares of the technology company’s stock valued at $4,666,000 after buying an additional 34,282 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Allied Motion Technologies by 88.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 128,594 shares of the technology company’s stock valued at $4,873,000 after buying an additional 60,351 shares during the period. 50.11% of the stock is owned by institutional investors and hedge funds.

About Allied Motion Technologies

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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