Alliance Laundry (NYSE:ALH) Price Target Raised to $28.00

Alliance Laundry (NYSE:ALH) had its target price increased by Citigroup from $26.00 to $28.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Alliance Laundry from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird reduced their target price on shares of Alliance Laundry from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley upped their target price on shares of Alliance Laundry from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Zacks Research upgraded shares of Alliance Laundry from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. Finally, Weiss Ratings upgraded shares of Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Alliance Laundry Stock Performance

NYSE ALH traded down $0.20 during trading hours on Thursday, hitting $23.56. The company had a trading volume of 724,618 shares, compared to its average volume of 956,762. Alliance Laundry has a fifty-two week low of $18.64 and a fifty-two week high of $28.23. The company has a quick ratio of 1.14, a current ratio of 1.35 and a debt-to-equity ratio of 3.38. The business has a fifty day simple moving average of $21.84 and a 200-day simple moving average of $23.54. The firm has a market cap of $4.63 billion and a P/E ratio of 22.66.

Alliance Laundry (NYSE:ALH) last posted its earnings results on Tuesday, November 10th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Alliance Laundry had a return on equity of 59.70% and a net margin of 11.74%. The company had revenue of $460.92 million for the quarter. Equities analysts predict that Alliance Laundry will post 1.38 EPS for the current year.

Insider Activity

In other news, COO Gommaar Vleugels sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $21.05, for a total transaction of $1,578,750.00. Following the transaction, the chief operating officer directly owned 374,563 shares of the company’s stock, valued at approximately $7,884,551.15. This trade represents a 16.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Alliance Laundry

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Alliance Laundry by 64.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,960,037 shares of the company’s stock valued at $63,049,000 after buying an additional 1,163,637 shares during the period. Wealth Alliance LLC lifted its stake in shares of Alliance Laundry by 34.9% in the 3rd quarter. Wealth Alliance LLC now owns 11,396 shares of the company’s stock worth $243,000 after acquiring an additional 2,948 shares during the period. USS Investment Management Ltd bought a new position in shares of Alliance Laundry in the third quarter valued at approximately $563,000. Voya Investment Management LLC boosted its holdings in shares of Alliance Laundry by 43.8% in the third quarter. Voya Investment Management LLC now owns 12,370 shares of the company’s stock valued at $263,000 after acquiring an additional 3,769 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its holdings in shares of Alliance Laundry by 37.4% in the third quarter. Bridges Investment Management Inc. now owns 13,817 shares of the company’s stock valued at $294,000 after acquiring an additional 3,764 shares in the last quarter.

Trending Headlines about Alliance Laundry

Investors following ALH have been watching these headlines:

• Positive Sentiment: Citigroup raised its target to $28 and maintained a Buy rating. The new target implies upside from the cited share price. Citigroup target increase
• Positive Sentiment: Morgan Stanley also raised its price target, adding another favorable analyst view, though the new target was not specified in the report. Morgan Stanley target increase
• Positive Sentiment: Recent quarterly results beat estimates: ALH reported EPS of $0.38 versus the $0.32 consensus, with revenue of $460.92 million. Shares previously gapped higher after the earnings release. Shares gap up after earnings

About Alliance Laundry

Alliance Laundry Holdings, Inc. designs, manufactures and sells commercial laundry equipment. Its products include washers, dryers and related laundry systems for laundromats and customers in sectors such as hospitality, healthcare, multifamily housing and other institutional markets. The company serves customers worldwide through brands including Speed Queen, UniMac, Huebsch, Primus and IPSO. Its offerings include equipment for self-service and on-premises laundry operations, along with related parts and services.