Alliance Laundry (NYSE:ALH) Stock Rating Upgraded by Zacks Research

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

A number of other equities research analysts have also commented on ALH. Citigroup lowered their price target on Alliance Laundry from $31.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, October 12th. BMO Capital Markets raised their price objective on Alliance Laundry from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. Weiss Ratings downgraded shares of Alliance Laundry from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Robert W. Baird lifted their price objective on shares of Alliance Laundry from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Alliance Laundry has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Alliance Laundry Stock Performance

Shares of ALH opened at $21.41 on Monday. The firm has a market capitalization of $4.26 billion and a P/E ratio of 23.53. Alliance Laundry has a 52 week low of $18.64 and a 52 week high of $28.23. The stock has a 50 day moving average price of $21.91 and a two-hundred day moving average price of $23.51.

Alliance Laundry (NYSE:ALH) last posted its earnings results on Thursday, August 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $476.75 million during the quarter. On average, equities analysts forecast that Alliance Laundry will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Gommaar Vleugels sold 75,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 374,563 shares of the company’s stock, valued at $7,884,551.15. This represents a 16.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Hannan sold 6,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 156,000 shares of company stock worth $3,595,800 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Alliance Laundry

Hedge funds have recently bought and sold shares of the business. Straight Path Wealth Management bought a new position in Alliance Laundry in the 3rd quarter valued at $1,424,000. Sterling Capital Management LLC increased its position 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 valued at $45,000 after purchasing an additional 1,967 shares during the last quarter. Birch Hill Investment Advisors LLC raised its stake in shares of Alliance Laundry by 441.7% during the 3rd quarter. Birch Hill Investment Advisors LLC now owns 106,235 shares of the company’s stock worth $2,263,000 after purchasing an additional 86,625 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Alliance Laundry during the 3rd quarter worth $182,000. Finally, Diversified Management Inc. purchased a new position in shares of Alliance Laundry in the 3rd quarter worth about $1,034,000.

About Alliance Laundry

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.