Zacks Research Upgrades Alliance Laundry (NYSE:ALH) to “Strong-Buy”

Alliance Laundry (NYSE:ALH) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Other analysts have also issued reports about the stock. Robert W. Baird upped their price objective on shares of Alliance Laundry from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Weiss Ratings downgraded shares of Alliance Laundry from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Citigroup cut their price target on shares of Alliance Laundry from $31.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, October 12th. BMO Capital Markets boosted their price target on shares of Alliance Laundry from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alliance Laundry from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alliance Laundry has an average rating of “Moderate Buy” and an average price target of $30.20.

Alliance Laundry Stock Up 1.2%

Shares of NYSE ALH opened at $21.41 on Monday. Alliance Laundry has a 12 month low of $18.64 and a 12 month high of $28.23. The company has a market cap of $4.26 billion and a price-to-earnings ratio of 23.53. The business has a fifty day simple moving average of $21.91 and a 200-day simple moving average of $23.51.

Alliance Laundry (NYSE:ALH) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $476.75 million during the quarter. As a group, sell-side analysts expect that Alliance Laundry will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Samantha Hannan sold 6,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.80, for a total value of $160,800.00. Following the transaction, the insider directly owned 286,066 shares of the company’s stock, valued at approximately $7,666,568.80. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jan Gommaar M. Vleugels sold 75,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $21.05, for a total value of $1,578,750.00. Following the sale, the chief operating officer owned 374,563 shares of the company’s stock, valued at approximately $7,884,551.15. This represents a 16.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 156,000 shares of company stock valued at $3,595,800. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALH. Integrated Wealth Concepts LLC purchased a new position in Alliance Laundry in the second quarter valued at about $36,000. PNC Financial Services Group Inc. increased its position in Alliance Laundry by 74.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock worth $30,000 after purchasing an additional 608 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Alliance Laundry by 11,068.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,787 shares of the company’s stock worth $47,000 after purchasing an additional 1,771 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Alliance Laundry by 1,277.3% during the 3rd quarter. Sterling Capital Management LLC now owns 2,121 shares of the company’s stock worth $45,000 after purchasing an additional 1,967 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Alliance Laundry during the 2nd quarter worth about $74,000.

Alliance Laundry Company Profile

Alliance Laundry Holdings, Inc is a commercial and residential laundry equipment company headquartered in Ripon, Wisconsin. Through its operating businesses, the company designs, manufactures and distributes washing machines, dryers and related laundry systems for commercial, institutional and consumer customers.

Its product portfolio includes coin-operated and on-premises laundry equipment, industrial laundry systems, and residential washers and dryers. The company’s brands include Speed Queen, Huebsch, UniMac, Primus and IPSO, serving customers such as laundromats, multifamily housing operators, hotels, healthcare facilities, correctional institutions and other organizations with high-volume laundry needs.

Alliance Laundry traces its origins to 1908 and sells its products through distributors and other sales channels in the United States and international markets.