Alliance Laundry (NYSE:ALH) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Alliance Laundry (NYSE:ALH) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks reports.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Citigroup dropped their price target on shares of Alliance Laundry from $31.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Weiss Ratings lowered Alliance Laundry from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Robert W. Baird upped their price objective on Alliance Laundry from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, 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 note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Alliance Laundry Stock Up 1.2%

Shares of NYSE ALH opened at $21.41 on Monday. The firm has a market cap of $4.26 billion and a price-to-earnings ratio of 23.53. Alliance Laundry has a 52-week low of $18.64 and a 52-week high of $28.23. The business’s 50 day moving average is $21.91 and its two-hundred day moving average is $23.51.

Alliance Laundry (NYSE:ALH) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm had revenue of $476.75 million for the quarter. Analysts anticipate that Alliance Laundry will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Samantha Hannan sold 6,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.80, for a total value of $160,800.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Gommaar Vleugels sold 75,000 shares of Alliance Laundry 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 sale, the chief operating officer owned 374,563 shares in the company, valued at $7,884,551.15. This represents a 16.68% 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 sold a total of 156,000 shares of company stock worth $3,595,800 over the last ninety days. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Alliance Laundry

Large investors have recently bought and sold shares of the stock. BDT Capital Partners LLC purchased a new stake in shares of Alliance Laundry in the 2nd quarter valued at about $3,732,734,978. BlackRock Inc. acquired a new stake in shares of Alliance Laundry in the 2nd quarter valued at about $85,422,000. Bank of America Corp DE purchased a new position in Alliance Laundry during the 2nd quarter worth approximately $14,037,000. Sei Investments Co. grew its stake in Alliance Laundry by 9.4% during the 1st quarter. Sei Investments Co. now owns 266,884 shares of the company’s stock worth $5,535,000 after buying an additional 22,988 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Alliance Laundry by 24.6% during the 1st quarter. Renaissance Technologies LLC now owns 207,300 shares of the company’s stock worth $4,299,000 after buying an additional 40,900 shares during the last quarter.

About Alliance Laundry

Alliance Laundry Holdings, Inc is a commercial and residential laundry equipment company headquartered in Ripon, Wisconsin. Through its operating businesses, the company designs, manufactures and distributes washing machines, dryers and related laundry systems for commercial, institutional and consumer customers.

Its product portfolio includes coin-operated and on-premises laundry equipment, industrial laundry systems, and residential washers and dryers. The company’s brands include Speed Queen, Huebsch, UniMac, Primus and IPSO, serving customers such as laundromats, multifamily housing operators, hotels, healthcare facilities, correctional institutions and other organizations with high-volume laundry needs.

Alliance Laundry traces its origins to 1908 and sells its products through distributors and other sales channels in the United States and international markets.