Alliance Laundry Holdings Inc. (NYSE:ALH) Stock Has Consensus Price Target of $31.20 According to Brokerages

Alliance Laundry Holdings Inc. (NYSE:ALH) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $31.20.

A number of brokerages have recently commented on ALH. Weiss Ratings reiterated a “hold (c)” rating on shares of Alliance Laundry in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Citigroup increased their target price on Alliance Laundry from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Robert W. Baird lifted their price target on Alliance Laundry from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, BMO Capital Markets boosted their price target on Alliance Laundry from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, August 17th.

Alliance Laundry Price Performance

NYSE ALH opened at $21.32 on Thursday. The business has a 50 day simple moving average of $23.63 and a 200 day simple moving average of $24.13. The stock has a market cap of $4.24 billion and a price-to-earnings ratio of 23.42. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.14 and a current ratio of 1.43. Alliance Laundry has a 52-week low of $18.64 and a 52-week high of $28.23.

Alliance Laundry (NYSE:ALH) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%. The company had revenue of $476.75 million for the quarter. Analysts anticipate that Alliance Laundry will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Samantha Hannan sold 6,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.80, for a total transaction of $160,800.00. Following the completion of the transaction, the insider owned 286,066 shares of the company’s stock, valued at approximately $7,666,568.80. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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. Also, insider Amanda Kopetsky sold 13,472 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total transaction of $363,744.00. Following the transaction, the insider directly owned 7,331 shares of the company’s stock, valued at $197,937. The trade was a 64.76% decrease in their position. 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. Insiders have sold a total of 169,472 shares of company stock worth $3,959,544 in the last ninety days. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Alliance Laundry

Institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new position in Alliance Laundry during the 2nd quarter worth about $36,000. HighTower Advisors LLC increased its stake in shares of Alliance Laundry by 3.5% in the second quarter. HighTower Advisors LLC now owns 16,410 shares of the company’s stock valued at $435,000 after buying an additional 556 shares during the period. AXQ Capital LP bought a new position in shares of Alliance Laundry during the second quarter worth about $999,000. Corient Private Wealth LP bought a new position in shares of Alliance Laundry during the second quarter worth about $1,182,000. Finally, Bank of America Corp DE acquired a new position in shares of Alliance Laundry in the second quarter worth approximately $14,037,000.

About Alliance Laundry

Alliance Laundry is a commercial and residential laundry equipment company headquartered in Ripon, Wisconsin. The company designs, manufactures and markets washing machines, dryers and related laundry systems for consumers, laundromats, multifamily housing, hospitality businesses, healthcare facilities, correctional institutions and other commercial customers.

Its portfolio includes equipment and laundry solutions sold under brands such as Speed Queen, UniMac, Huebsch, IPSO and Primus.