Alliance Laundry (NYSE:ALH) Shares Down 4.3% After Analyst Downgrade

Shares of Alliance Laundry Holdings Inc. (NYSE:ALH – Get Free Report) traded down 4.3% during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $32.00 to $31.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alliance Laundry traded as low as $23.85 and last traded at $23.9880. Approximately 128,930 shares were traded during trading, a decline of 87% from the average session volume of 971,736 shares. The stock had previously closed at $25.07.

Several other analysts have also recently issued reports on the stock. Weiss Ratings raised shares of Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, November 4th. Citigroup dropped their price objective on Alliance Laundry from $31.00 to $26.00 and set a “buy” rating for the company in a report on Monday, October 12th. Zacks Research raised Alliance Laundry from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. BMO Capital Markets lifted their target price on Alliance Laundry from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Finally, Robert W. Baird lowered their price target on Alliance Laundry from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Alliance Laundry presently has an average rating of “Moderate Buy” and a consensus target price of $29.20.

Get Our Latest Stock Analysis on Alliance Laundry

Insider Buying and Selling

In other Alliance Laundry news, COO Gommaar Vleugels sold 75,000 shares of Alliance Laundry stock in a transaction that occurred on Tuesday, September 15th. The shares were 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 $7,884,551.15. The trade was a 16.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

More Alliance Laundry News

Here’s some of the latest news about ALH:

Hedge Funds Weigh In On Alliance Laundry

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BDT Capital Partners LLC acquired a new stake in Alliance Laundry in the 2nd quarter valued at $3,732,734,978. BlackRock Inc. acquired a new position in shares of Alliance Laundry during the second quarter worth about $85,422,000. Bank of America Corp DE acquired a new position in shares of Alliance Laundry during the second quarter worth about $14,037,000. Bank of New York Mellon Corp purchased a new stake in shares of Alliance Laundry in the second quarter worth about $3,299,000. Finally, Swiss National Bank purchased a new stake in shares of Alliance Laundry in the first quarter worth about $2,024,000.

Alliance Laundry Price Performance

The company has a debt-to-equity ratio of 3.35, a current ratio of 1.43 and a quick ratio of 1.14. The company has a market cap of $4.77 billion and a PE ratio of 26.37. The company has a 50-day moving average price of $21.75 and a two-hundred day moving average price of $23.51.

Alliance Laundry (NYSE:ALH – Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. The firm had revenue of $460.92 million for the quarter. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. Sell-side analysts expect that Alliance Laundry Holdings Inc. will post 1.35 earnings per share for the current fiscal year.

Alliance Laundry Company Profile

(Get Free Report)

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.

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