Norges Bank purchased a new stake in shares of Alliance Laundry Holdings Inc. (NYSE:ALH – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,750,000 shares of the company’s stock, valued at approximately $55,962,000.
A number of other hedge funds also recently bought and sold shares of the business. Seven Grand Managers LLC purchased a new position in Alliance Laundry during the 4th quarter valued at about $6,105,000. Geode Capital Management LLC purchased a new position in Alliance Laundry during the 4th quarter valued at about $18,841,000. Phoenix Financial Ltd. purchased a new position in Alliance Laundry during the 4th quarter valued at about $221,000. Strs Ohio purchased a new position in Alliance Laundry during the 4th quarter valued at about $157,000. Finally, M&T Bank Corp purchased a new position in Alliance Laundry during the 4th quarter valued at about $380,000.
Alliance Laundry Stock Performance
ALH stock opened at $25.01 on Monday. Alliance Laundry Holdings Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $27.48. The stock’s 50 day moving average price is $24.13. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.37 and a quick ratio of 1.05. The stock has a market cap of $4.97 billion and a P/E ratio of 30.13.
Wall Street Analysts Forecast Growth
ALH has been the topic of a number of research analyst reports. Weiss Ratings upgraded Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Citigroup boosted their price target on Alliance Laundry from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Zacks Research upgraded Alliance Laundry from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. Robert W. Baird upped their target price on Alliance Laundry from $29.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Alliance Laundry from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Alliance Laundry has an average rating of “Moderate Buy” and an average price target of $30.00.
Get Our Latest Research Report on ALH
About Alliance Laundry
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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