Shares of Alliance Laundry Holdings Inc. (NYSE:ALH – Get Free Report) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $25.91, but opened at $27.96. Alliance Laundry shares last traded at $26.32, with a volume of 42,870 shares trading hands.
The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $476.75 million for the quarter.
Analyst Upgrades and Downgrades
ALH has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Alliance Laundry from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Citigroup upped their price target on shares of Alliance Laundry from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Alliance Laundry in a report on Friday, August 7th. Zacks Research downgraded shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Robert W. Baird upped their target price on Alliance Laundry from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.33.
Insider Buying and Selling at Alliance Laundry
In other Alliance Laundry news, insider Amanda Brooke Kopetsky sold 13,472 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total transaction of $363,744.00. Following the transaction, the insider owned 7,331 shares in the company, valued at $197,937. This represents a 64.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jan Gommaar M. Vleugels sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.64, for a total transaction of $1,923,000.00. Following the transaction, the chief operating officer directly owned 599,563 shares in the company, valued at $15,372,795.32. This represents a 11.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,528 shares of company stock valued at $3,583,271 in the last three months. 7.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Alliance Laundry
Hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA acquired a new position in Alliance Laundry in the 4th quarter valued at $14,951,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Alliance Laundry during the 4th quarter worth $3,209,000. Teacher Retirement System of Texas bought a new position in shares of Alliance Laundry in the fourth quarter worth $6,105,000. Vanguard Group Inc. bought a new position in shares of Alliance Laundry in the fourth quarter worth $76,161,000. Finally, UBS Group AG acquired a new position in Alliance Laundry in the fourth quarter valued at about $19,411,000.
Alliance Laundry Price Performance
The firm has a market cap of $5.29 billion and a P/E ratio of 32.08. 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 company’s 50-day moving average is $26.06 and its two-hundred day moving average is $24.13.
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.
Read More
- Five stocks we like better than Alliance Laundry
- Abercrombie’s Comeback Is a Work in Progress
- Roku’s Ad Business Is Growing—These 3 Stocks Could Be Next
- Cleared for Takeoff: Archer Aviation Changes the Math on eVTOL
- Voyager Technologies: Space Force Deal Fuels Growth Despite Heavy Cash Burn
Receive News & Ratings for Alliance Laundry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliance Laundry and related companies with MarketBeat.com's FREE daily email newsletter.
