Alliance Laundry (NYSE:ALH – Get Free Report) had its price target lifted by equities researchers at Robert W. Baird from $29.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 26.84% from the stock’s current price.
A number of other equities research analysts also recently issued reports on ALH. Zacks Research downgraded shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Alliance Laundry from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Citigroup cut their price objective on shares of Alliance Laundry from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Weiss Ratings raised shares of Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alliance Laundry presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.
View Our Latest Stock Analysis on ALH
Alliance Laundry Trading Down 0.7%
Alliance Laundry (NYSE:ALH – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $426.89 million during the quarter. During the same period in the previous year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts forecast that Alliance Laundry will post 1.25 earnings per share for the current year.
Institutional Investors Weigh In On Alliance Laundry
A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 608 shares during the period. Dimensional Fund Advisors LP bought a new position in Alliance Laundry in the 1st quarter worth $205,000. Swiss National Bank bought a new position in Alliance Laundry in the 1st quarter worth $2,024,000. Bank of New York Mellon Corp boosted its holdings in Alliance Laundry by 9.9% in the 1st quarter. Bank of New York Mellon Corp now owns 124,622 shares of the company’s stock worth $2,585,000 after buying an additional 11,274 shares during the period. Finally, Fifth Third Bancorp bought a new position in Alliance Laundry in the 1st quarter worth $195,000.
Alliance Laundry Company Profile
Alliance Laundry Systems (NYSE: ALH) is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.
Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.
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