Alliance Laundry (NYSE:ALH) Shares Gap Up After Earnings Beat

Alliance Laundry Holdings Inc. (NYSE:ALH) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. 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.

The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $476.75 million for the quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Alliance Laundry from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Citigroup increased their target price on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Zacks Research lowered shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Laundry in a research note on Friday, August 7th. Finally, Morgan Stanley increased their price target on Alliance Laundry from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. 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 company has a consensus rating of “Hold” and an average target price of $30.33.

Insider Buying and Selling at Alliance Laundry

In other Alliance Laundry news, COO Jan Gommaar M. Vleugels sold 75,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.64, for a total transaction of $1,923,000.00. Following the sale, the chief operating officer directly owned 599,563 shares of the company’s stock, valued at $15,372,795.32. The trade was a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amanda Brooke Kopetsky sold 13,472 shares of the stock in a transaction dated Tuesday, July 28th. The stock was 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 of the company’s stock, valued at approximately $197,937. This represents a 64.76% 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 have sold a total of 137,528 shares of company stock valued at $3,583,271 over the last quarter. 7.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake 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 worth $30,000 after purchasing an additional 608 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Alliance Laundry by 7.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,861 shares of the company’s stock valued at $267,000 after buying an additional 885 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alliance Laundry by 11,068.8% in the second quarter. GAMMA Investing LLC now owns 1,787 shares of the company’s stock valued at $47,000 after buying an additional 1,771 shares in the last quarter. Comerica Bank acquired a new position in Alliance Laundry during the fourth quarter worth $50,000. Finally, California State Teachers Retirement System bought a new stake in Alliance Laundry during the fourth quarter worth $55,000.

Alliance Laundry Trading Up 2.8%

The stock has a market cap of $5.29 billion and a price-to-earnings ratio of 32.08. The company has a quick ratio of 1.05, a current ratio of 1.37 and a debt-to-equity ratio of 4.00. The business’s 50 day simple moving average is $26.06 and its 200 day simple moving average is $24.13.

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.