Alliance Laundry (NYSE:ALH) Price Target Raised to $29.00

Alliance Laundry (NYSE:ALH) had its target price boosted by Morgan Stanley from $28.00 to $29.00 in a report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the company. Robert W. Baird dropped their price target on Alliance Laundry from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday. BMO Capital Markets increased their price objective on Alliance Laundry from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. Zacks Research raised Alliance Laundry from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Weiss Ratings upgraded Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. Finally, Citigroup dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

Alliance Laundry Stock Performance

NYSE ALH opened at $23.56 on Wednesday. Alliance Laundry has a 52-week low of $18.64 and a 52-week high of $28.23. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.14 and a current ratio of 1.35. The company has a market capitalization of $4.63 billion and a P/E ratio of 17.73. The company has a fifty day moving average of $21.84 and a 200-day moving average of $23.54.

Alliance Laundry (NYSE:ALH) last released its earnings results on Tuesday, November 10th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $460.92 million for the quarter. Alliance Laundry had a return on equity of 59.70% and a net margin of 11.74%. As a group, equities research analysts predict that Alliance Laundry will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling at Alliance Laundry

In other news, COO Gommaar Vleugels sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $21.05, for a total transaction of $1,578,750.00. Following the completion of the transaction, the chief operating officer directly owned 374,563 shares in the company, valued at $7,884,551.15. This trade represents a 16.68% decrease in their ownership of the stock. The sale was disclosed in a legal 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. 7.60% of the stock is owned by insiders.

Institutional Trading of Alliance Laundry

Several institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in Alliance Laundry in the 2nd quarter valued at approximately $36,000. PNC Financial Services Group Inc. boosted its stake in Alliance Laundry by 74.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock valued at $30,000 after purchasing an additional 608 shares during the last quarter. GAMMA Investing LLC boosted its stake in Alliance Laundry by 11,068.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,787 shares of the company’s stock valued at $47,000 after purchasing an additional 1,771 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Alliance Laundry by 1,277.3% in the 3rd quarter. Sterling Capital Management LLC now owns 2,121 shares of the company’s stock worth $45,000 after purchasing an additional 1,967 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Alliance Laundry in the 2nd quarter worth $74,000.

Key Headlines Impacting Alliance Laundry

These are some of the ALH headlines that stood out recently:

• Positive Sentiment: Citigroup raised its target to $28 and maintained a Buy rating. The new target implies upside from the cited share price. Citigroup target increase
• Positive Sentiment: Recent quarterly results beat estimates: ALH reported EPS of $0.38 versus the $0.32 consensus, with revenue of $460.92 million. Shares previously gapped higher after the earnings release. Shares gap up after earnings
• Neutral Sentiment: Industry commentary points to both headwinds and opportunities. Macro pressures challenge home-furnishings businesses, while digitization, e-commerce, product innovation and updated marketing approaches are cited as potential supports for ALH and peers. Home-furnishings industry outlook

About Alliance Laundry

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.