Allied Motion Technologies (NASDAQ:AMOT) Downgraded by Zacks Investment Research to “Sell”

Allied Motion Technologies (NASDAQ:AMOT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

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 have also recently commented on AMOT. Roth Capital reissued a “buy” rating on shares of Allied Motion Technologies in a research note on Thursday, March 4th. Colliers Securities reissued a “buy” rating on shares of Allied Motion Technologies in a research report on Sunday, March 7th.

AMOT stock traded down $0.12 during midday trading on Tuesday, hitting $34.96. 3,273 shares of the company’s stock were exchanged, compared to its average volume of 44,482. Allied Motion Technologies has a 1-year low of $17.63 and a 1-year high of $37.15. The company has a current ratio of 2.68, a quick ratio of 1.50 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $341.66 million, a PE ratio of 23.21, a P/E/G ratio of 2.91 and a beta of 1.79. The business has a 50-day simple moving average of $36.08 and a two-hundred day simple moving average of $32.22.

Allied Motion Technologies (NASDAQ:AMOT) last released its earnings results on Thursday, March 11th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. The company had revenue of $93.00 million for the quarter, compared to analyst estimates of $89.00 million. Allied Motion Technologies had a net margin of 3.99% and a return on equity of 11.69%. As a group, research analysts expect that Allied Motion Technologies will post 1.43 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in Allied Motion Technologies in the first quarter valued at $29,000. International Assets Investment Management LLC purchased a new stake in shares of Allied Motion Technologies during the fourth quarter worth approximately $69,000. Citigroup Inc. lifted its holdings in shares of Allied Motion Technologies by 287.2% during the fourth quarter. Citigroup Inc. now owns 1,417 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,051 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Allied Motion Technologies in the 4th quarter valued at $251,000. Finally, Calamos Advisors LLC acquired a new position in Allied Motion Technologies in the 4th quarter valued at $334,000. Hedge funds and other institutional investors own 54.84% of the company’s stock.

Allied Motion Technologies Company Profile

Allied Motion Technologies Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems that are used in a range of industries worldwide. The company offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers.

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