Morgan Stanley Raises Alliance Laundry (NYSE:ALH) Price Target to $28.00

Alliance Laundry (NYSE:ALH) had its price target upped by stock analysts at Morgan Stanley from $27.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 10.32% from the company’s previous close.

ALH has been the topic of a number of other reports. Wall Street Zen upgraded Alliance Laundry from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Weiss Ratings upgraded Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Zacks Research upgraded Alliance Laundry from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Citigroup increased their price objective on Alliance Laundry from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Robert W. Baird increased their price target on Alliance Laundry from $29.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Alliance Laundry Price Performance

Shares of ALH stock traded down $0.16 during trading hours on Friday, reaching $25.38. 35,790 shares of the company were exchanged, compared to its average volume of 905,203. The firm has a market cap of $5.04 billion and a P/E ratio of 30.58. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.05 and a current ratio of 1.37. The business has a fifty day moving average price of $23.48. Alliance Laundry has a fifty-two week low of $18.64 and a fifty-two week high of $27.48.

Alliance Laundry (NYSE:ALH) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $426.89 million during the quarter. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. On average, research analysts anticipate that Alliance Laundry will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BDT Capital Partners LLC bought a new position in Alliance Laundry during the 4th quarter worth approximately $2,864,297,000. Capital International Investors bought a new position in Alliance Laundry during the 4th quarter worth approximately $101,498,000. Vanguard Group Inc. acquired a new stake in Alliance Laundry during the 4th quarter worth $76,161,000. Norges Bank acquired a new stake in Alliance Laundry during the 4th quarter worth $55,962,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Alliance Laundry during the 4th quarter worth $48,234,000.

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.