Allied Motion Technologies (AMOT) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Allied Motion Technologies (NASDAQ:AMOT) from a hold rating to a sell rating in a research note released on Friday.

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. “

Several other equities research analysts have also commented on the company. BidaskClub lowered Allied Motion Technologies from a hold rating to a sell rating in a research note on Tuesday, July 17th. TheStreet upgraded Allied Motion Technologies from a c+ rating to a b+ rating in a research note on Wednesday, May 30th. Finally, ValuEngine upgraded Allied Motion Technologies from a hold rating to a buy rating in a research note on Wednesday, May 2nd.

Shares of Allied Motion Technologies stock opened at $49.82 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.67 and a debt-to-equity ratio of 0.68. Allied Motion Technologies has a twelve month low of $22.78 and a twelve month high of $51.80. The stock has a market capitalization of $475.84 million, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 4.30 and a beta of 1.85.

Allied Motion Technologies (NASDAQ:AMOT) last announced its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Allied Motion Technologies had a return on equity of 16.27% and a net margin of 4.04%. The firm had revenue of $79.98 million during the quarter. analysts forecast that Allied Motion Technologies will post 1.67 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 29th. Shareholders of record on Thursday, August 16th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $0.12 annualized dividend and a yield of 0.24%. Allied Motion Technologies’s dividend payout ratio (DPR) is currently 9.84%.

A number of large investors have recently bought and sold shares of AMOT. MetLife Investment Advisors LLC purchased a new stake in Allied Motion Technologies during the 1st quarter worth approximately $130,000. Prudential Financial Inc. purchased a new stake in Allied Motion Technologies during the 1st quarter worth approximately $207,000. Highbridge Capital Management LLC purchased a new stake in Allied Motion Technologies during the 1st quarter worth approximately $215,000. Peapack Gladstone Financial Corp purchased a new stake in Allied Motion Technologies during the 2nd quarter worth approximately $215,000. Finally, Citadel Advisors LLC purchased a new stake in Allied Motion Technologies during the 1st quarter worth approximately $216,000. Institutional investors own 49.38% of the company’s stock.

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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