Alliance Laundry (NYSE:ALH) Price Target Raised to $31.00

Alliance Laundry (NYSE:ALH) had its target price lifted by BMO Capital Markets from $30.00 to $31.00 in a research note published on Monday, Marketbeat reports. BMO Capital Markets currently has an outperform rating on the stock.

ALH has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their target price on Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Zacks Research downgraded Alliance Laundry from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Alliance Laundry in a report on Friday, August 7th. Citigroup raised their price objective on Alliance Laundry from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Robert W. Baird lifted their target price on Alliance Laundry from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.20.

Alliance Laundry Stock Down 0.6%

NYSE:ALH opened at $23.85 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.14 and a debt-to-equity ratio of 3.35. Alliance Laundry has a twelve month low of $18.64 and a twelve month high of $28.23. The company has a market cap of $4.74 billion and a PE ratio of 26.21. The company’s 50 day moving average is $25.99 and its two-hundred day moving average is $24.23.

Alliance Laundry (NYSE:ALH) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%. The business had revenue of $476.75 million during the quarter. Analysts anticipate that Alliance Laundry will post 1.32 EPS for the current year.

Insider Buying and Selling at Alliance Laundry

In other Alliance Laundry news, insider Samantha Leigh 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Brian Christopher Sikora sold 17,500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $26.15, for a total value of $457,625.00. Following the sale, the chief accounting officer directly owned 13,951 shares in the company, valued at $364,818.65. This represents a 55.64% 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 three months, insiders sold 212,528 shares of company stock worth $5,439,521. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of Alliance Laundry

A number of hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Alliance Laundry by 74.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock worth $30,000 after acquiring an additional 608 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Alliance Laundry by 7.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,861 shares of the company’s stock valued at $267,000 after acquiring an additional 885 shares during the period. GAMMA Investing LLC boosted its position in Alliance Laundry by 11,068.8% in 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. Comerica Bank purchased a new stake in Alliance Laundry in the 4th quarter worth approximately $50,000. Finally, California State Teachers Retirement System purchased a new stake in Alliance Laundry in the 4th quarter worth approximately $55,000.

Alliance Laundry Company Profile

Alliance Laundry Systems (NYSE: ALH) is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.

Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.