Alliance Laundry (NYSE:ALH – Get Free Report) had its target price hoisted by analysts at BMO Capital Markets from $30.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 21.59% from the company’s current price.
ALH has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Alliance Laundry in a report on Friday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday. Zacks Research lowered shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Citigroup lifted their target price on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Robert W. Baird boosted their target price on Alliance Laundry from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.20.
View Our Latest Stock Analysis on ALH
Alliance Laundry Trading Up 0.1%
Alliance Laundry (NYSE:ALH – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $476.75 million for the quarter. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. On average, sell-side analysts anticipate that Alliance Laundry will post 1.31 earnings per share for the current fiscal year.
Insider Activity at Alliance Laundry
In other Alliance Laundry news, insider Amanda Brooke Kopetsky sold 13,472 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total value of $363,744.00. Following the transaction, the insider directly owned 7,331 shares in the company, valued at $197,937. The trade was a 64.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Leigh Hannan sold 6,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.80, for a total transaction 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 represents a 2.05% 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 137,528 shares of company stock valued at $3,583,271 over the last quarter. Corporate insiders own 7.60% of the company’s stock.
Institutional Investors Weigh In On Alliance Laundry
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALH. PNC Financial Services Group Inc. lifted its position in shares of Alliance Laundry by 74.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock worth $30,000 after acquiring an additional 608 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Alliance Laundry by 11,068.8% during the second quarter. GAMMA Investing LLC now owns 1,787 shares of the company’s stock worth $47,000 after purchasing an additional 1,771 shares in the last quarter. Comerica Bank bought a new position in Alliance Laundry in the fourth quarter valued at $50,000. California State Teachers Retirement System purchased a new position in shares of Alliance Laundry during the 4th quarter valued at about $55,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Alliance Laundry in the 4th quarter worth approximately $63,000.
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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