Zacks: Brokerages Set $37.00 Target Price for Allied Motion Technologies, Inc. (AMOT)

Shares of Allied Motion Technologies, Inc. (NASDAQ:AMOT) have been assigned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 1 year consensus target price of $37.00 for the company and are expecting that the company will post $0.24 EPS for the current quarter, according to Zacks. Zacks has also assigned Allied Motion Technologies an industry rank of 67 out of 265 based on the ratings given to its competitors.

A number of brokerages have issued reports on AMOT. BidaskClub lowered Allied Motion Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. TheStreet raised Allied Motion Technologies from a “c+” rating to a “b” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research lowered Allied Motion Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd.

Shares of Allied Motion Technologies (NASDAQ AMOT) traded up $0.02 during mid-day trading on Friday, reaching $31.24. The company had a trading volume of 32,700 shares, compared to its average volume of 37,100. Allied Motion Technologies has a 1-year low of $19.09 and a 1-year high of $36.20. The company has a market cap of $295.31, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.95. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.80 and a quick ratio of 1.76.

Hedge funds and other institutional investors have recently modified their holdings of the business. Earnest Partners LLC bought a new position in Allied Motion Technologies during the 4th quarter valued at $116,000. Nationwide Fund Advisors boosted its stake in Allied Motion Technologies by 11.8% during the 2nd quarter. Nationwide Fund Advisors now owns 4,778 shares of the technology company’s stock valued at $130,000 after purchasing an additional 505 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Allied Motion Technologies by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,144 shares of the technology company’s stock valued at $167,000 after purchasing an additional 401 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Allied Motion Technologies by 74.6% during the 3rd quarter. Wells Fargo & Company MN now owns 7,520 shares of the technology company’s stock valued at $191,000 after purchasing an additional 3,213 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Allied Motion Technologies by 130.8% during the 2nd quarter. Citigroup Inc. now owns 7,449 shares of the technology company’s stock valued at $203,000 after purchasing an additional 4,222 shares in the last quarter. 43.95% of the stock is owned by hedge funds and other institutional investors.

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Allied Motion Technologies Company Profile

Allied Motion Technologies Inc designs, manufactures and sells precision and specialty motion control components and systems used in a range of industries. The Company serves various markets, including vehicle, medical, aerospace and defense, electronics and industrial. It focuses on motion control applications.

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