Allied Motion Technologies (AMOT) Rating Lowered to Hold at Zacks Investment Research

Allied Motion Technologies (NASDAQ:AMOT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other research firms have also recently issued reports on AMOT. ValuEngine cut Allied Motion Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Craig Hallum set a $66.00 price objective on Allied Motion Technologies and gave the stock a “buy” rating in a report on Friday, December 7th. Dougherty & Co upgraded Allied Motion Technologies from a “neutral” rating to a “buy” rating in a report on Monday, October 29th. Finally, BidaskClub cut Allied Motion Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Allied Motion Technologies presently has a consensus rating of “Hold” and a consensus target price of $61.50.

Shares of AMOT traded up $0.12 during midday trading on Wednesday, reaching $42.14. The stock had a trading volume of 3,853 shares, compared to its average volume of 30,052. Allied Motion Technologies has a 12-month low of $29.51 and a 12-month high of $55.47. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $397.08 million, a P/E ratio of 34.54, a PEG ratio of 1.73 and a beta of 1.65.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its position in Allied Motion Technologies by 16.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 13,933 shares of the technology company’s stock valued at $668,000 after purchasing an additional 1,959 shares during the last quarter. Wells Fargo & Company MN raised its position in Allied Motion Technologies by 18.9% during the 3rd quarter. Wells Fargo & Company MN now owns 12,725 shares of the technology company’s stock valued at $692,000 after purchasing an additional 2,020 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Allied Motion Technologies by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 459,296 shares of the technology company’s stock valued at $24,998,000 after purchasing an additional 12,741 shares during the last quarter. Citadel Advisors LLC raised its position in Allied Motion Technologies by 144.7% during the 3rd quarter. Citadel Advisors LLC now owns 10,990 shares of the technology company’s stock valued at $598,000 after purchasing an additional 6,499 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Allied Motion Technologies by 48.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 53,859 shares of the technology company’s stock valued at $2,932,000 after purchasing an additional 17,625 shares during the last quarter. 48.38% of the stock is owned by institutional investors.

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.

See Also: Buyback For Investors Defined

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