Alliance Laundry (NYSE:ALH) Price Target Raised to $32.00

Alliance Laundry (NYSE:ALH) had its target price hoisted by stock analysts at Robert W. Baird from $29.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 26.84% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Citigroup reduced their price target 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. 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. 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 analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Alliance Laundry Stock Performance

Shares of NYSE ALH opened at $25.23 on Wednesday. Alliance Laundry has a fifty-two week low of $18.64 and a fifty-two week high of $27.48. The firm’s 50 day simple moving average is $22.63. The company has a market capitalization of $5.00 billion and a P/E ratio of 48.52. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 4.54.

Alliance Laundry (NYSE:ALH) last announced its earnings results on Tuesday, May 12th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $426.89 million for the quarter. During the same period last year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Alliance Laundry will post 1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alliance Laundry

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Alliance Laundry by 74.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock worth $30,000 after purchasing an additional 608 shares during the period. Comerica Bank bought a new stake in Alliance Laundry in the 4th quarter worth approximately $50,000. California State Teachers Retirement System bought a new stake in Alliance Laundry in the 4th quarter worth approximately $55,000. Caitong International Asset Management Co. Ltd bought a new stake in Alliance Laundry in the 4th quarter worth approximately $63,000. Finally, Russell Investments Group Ltd. bought a new stake in Alliance Laundry in the 4th quarter worth approximately $71,000.

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.