Alliance Laundry (NYSE:ALH) Given New $26.00 Price Target at Citigroup

Alliance Laundry (NYSE:ALH) had its target price decreased by stock analysts at Citigroup from $31.00 to $26.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 22.27% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Robert W. Baird raised their target price on Alliance Laundry from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on Alliance Laundry from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, August 14th. BMO Capital Markets lifted their target price on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Weiss Ratings cut shares of Alliance Laundry from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Zacks Research lowered shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alliance Laundry currently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Alliance Laundry Price Performance

Alliance Laundry stock traded down $0.01 during midday trading on Monday, reaching $21.27. The company had a trading volume of 711,071 shares, compared to its average volume of 978,688. The company has a market capitalization of $4.23 billion and a P/E ratio of 23.37. Alliance Laundry has a 12-month low of $18.64 and a 12-month high of $28.23. The firm’s fifty day simple moving average is $23.12 and its 200-day simple moving average is $24.21. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.43 and a quick ratio of 1.14.

Alliance Laundry (NYSE:ALH) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. The company had revenue of $476.75 million during the quarter. As a group, equities analysts anticipate that Alliance Laundry will post 1.34 EPS for the current year.

Insider Transactions at Alliance Laundry

In other Alliance Laundry news, COO Jan Gommaar M. Vleugels sold 75,000 shares of the company’s stock in a transaction 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 sale, the chief operating officer directly owned 374,563 shares in the company, valued at $7,884,551.15. This represents a 16.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Hannan sold 6,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.80, for a total value of $160,800.00. Following the completion of the sale, the insider directly owned 286,066 shares of the company’s stock, valued at $7,666,568.80. This trade represents a 2.05% 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. Insiders have sold a total of 169,472 shares of company stock worth $3,959,544 in the last ninety days. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALH. BDT Capital Partners LLC purchased a new stake in shares of Alliance Laundry in the fourth quarter valued at about $2,864,297,000. BlackRock Inc. acquired a new stake in Alliance Laundry during the second quarter worth about $85,422,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Alliance Laundry during the fourth quarter worth about $41,620,000. Bank of America Corp DE purchased a new position in Alliance Laundry during the second quarter worth about $14,037,000. Finally, Alberta Investment Management Corp purchased a new position in Alliance Laundry during the fourth quarter worth about $9,524,000.

Alliance Laundry Company Profile

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.