Allied Motion Technologies (AMOT) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Allied Motion Technologies (NASDAQ:AMOT) from a strong-buy rating to a hold rating in a research report report published on Wednesday, January 3rd.

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 research analysts also recently commented on the company. TheStreet raised Allied Motion Technologies from a c+ rating to a b rating in a research report on Thursday, November 16th. BidaskClub downgraded Allied Motion Technologies from a buy rating to a hold rating in a research report on Tuesday, December 5th.

Shares of Allied Motion Technologies (AMOT) opened at $35.16 on Wednesday. Allied Motion Technologies has a 1-year low of $19.09 and a 1-year high of $36.20. The company has a quick ratio of 1.76, a current ratio of 2.80 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $335.01, a P/E ratio of 37.70, a P/E/G ratio of 1.58 and a beta of 1.94.

Allied Motion Technologies (NASDAQ:AMOT) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Allied Motion Technologies had a return on equity of 10.92% and a net margin of 3.57%. analysts predict that Allied Motion Technologies will post 1.1 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of AMOT. Schwab Charles Investment Management Inc. bought a new stake in shares of Allied Motion Technologies during the second quarter valued at approximately $218,000. Bank of New York Mellon Corp increased its position in shares of Allied Motion Technologies by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 129,434 shares of the technology company’s stock valued at $3,524,000 after purchasing an additional 2,097 shares during the period. White Pine Capital LLC increased its position in shares of Allied Motion Technologies by 41.7% during the second quarter. White Pine Capital LLC now owns 17,150 shares of the technology company’s stock valued at $467,000 after purchasing an additional 5,050 shares during the period. Teachers Advisors LLC increased its position in shares of Allied Motion Technologies by 19.1% during the second quarter. Teachers Advisors LLC now owns 13,107 shares of the technology company’s stock valued at $357,000 after purchasing an additional 2,098 shares during the period. Finally, Nationwide Fund Advisors increased its position in shares of Allied Motion Technologies by 11.8% during the second 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 during the period. 41.36% of the stock is currently owned by institutional investors.

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About Allied Motion Technologies

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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