Alliance Laundry (NYSE:ALH) Shares Gap Up on Earnings Beat

Alliance Laundry Holdings Inc. (NYSE:ALH)’s share price gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $24.04, but opened at $24.93. Alliance Laundry shares last traded at $24.0350, with a volume of 279,909 shares changing hands.

The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.32 by $0.06. The firm had revenue of $460.92 million during the quarter. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Robert W. Baird increased their price target on Alliance Laundry from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. 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 research report on Monday, August 17th. JPMorgan Chase & Co. upped their price objective on Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Weiss Ratings raised Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. Finally, Zacks Research raised Alliance Laundry from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Insider Activity

In other Alliance Laundry news, COO Gommaar Vleugels sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $21.05, for a total transaction 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 trade represents a 16.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. BDT Capital Partners LLC bought a new position in Alliance Laundry in the 2nd quarter valued at $3,732,734,978. BlackRock Inc. bought a new stake in shares of Alliance Laundry during the 2nd quarter worth $85,422,000. Bank of America Corp DE bought a new stake in shares of Alliance Laundry during the 2nd quarter worth $14,037,000. Bank of New York Mellon Corp bought a new stake in shares of Alliance Laundry during the 2nd quarter worth $3,299,000. Finally, Swiss National Bank purchased a new position in shares of Alliance Laundry in the 1st quarter worth about $2,024,000.

Alliance Laundry Stock Down 0.0%

The stock’s fifty day moving average is $21.71 and its two-hundred day moving average is $23.50. The company has a current ratio of 1.43, a quick ratio of 1.14 and a debt-to-equity ratio of 3.35. The company has a market capitalization of $4.78 billion and a PE ratio of 26.52.

About Alliance Laundry