Alliance Laundry (NYSE:ALH) Stock Gets Price Target Reduction from Robert W. Baird

Alliance Laundry (NYSE:ALH) had its price objective decreased by Robert W. Baird from $34.00 to $30.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets lifted their price objective on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, August 17th. JPMorgan Chase & Co. boosted their target price on shares of Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Citigroup cut their target price on shares of Alliance Laundry from $31.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Zacks Research upgraded shares of Alliance Laundry from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Finally, Weiss Ratings upgraded shares of Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

Alliance Laundry Price Performance

NYSE:ALH opened at $23.56 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.35 and a debt-to-equity ratio of 3.38. The business’s 50-day moving average price is $21.84 and its 200 day moving average price is $23.54. Alliance Laundry has a 52-week low of $18.64 and a 52-week high of $28.23. The firm has a market cap of $4.63 billion and a P/E ratio of 17.73.

Alliance Laundry (NYSE:ALH) last issued its quarterly earnings results on Tuesday, November 10th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Alliance Laundry had a net margin of 11.74% and a return on equity of 59.70%. The company had revenue of $460.92 million during the quarter. As a group, sell-side analysts predict that Alliance Laundry will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Alliance Laundry

In related news, COO Gommaar Vleugels sold 75,000 shares of Alliance Laundry stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $21.05, for a total value of $1,578,750.00. Following the transaction, the chief operating officer owned 374,563 shares of the company’s stock, valued at approximately $7,884,551.15. This trade represents a 16.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by company insiders.

Institutional Trading of Alliance Laundry

A number of hedge funds have recently bought and sold shares of ALH. Integrated Wealth Concepts LLC purchased a new position in shares of Alliance Laundry in the second quarter worth approximately $36,000. PNC Financial Services Group Inc. raised its holdings 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 valued at $30,000 after acquiring an additional 608 shares during the period. GAMMA Investing LLC lifted its position in shares of Alliance Laundry by 11,068.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,787 shares of the company’s stock valued at $47,000 after acquiring an additional 1,771 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Alliance Laundry by 1,277.3% in the 3rd quarter. Sterling Capital Management LLC now owns 2,121 shares of the company’s stock valued at $45,000 after acquiring an additional 1,967 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Alliance Laundry in the 2nd quarter valued at approximately $74,000.

Top Alliance Laundry Stories

These are some of the ALH stories that stood out recently:

• Positive Sentiment: Morgan Stanley also raised its price target, adding another favorable analyst view, though the new target was not specified in the report. Morgan Stanley target increase
• Positive Sentiment: Recent quarterly results beat estimates: ALH reported EPS of $0.38 versus the $0.32 consensus, with revenue of $460.92 million. Shares previously gapped higher after the earnings release. Shares gap up after earnings
• Neutral Sentiment: Industry commentary points to both headwinds and opportunities. Macro pressures challenge home-furnishings businesses, while digitization, e-commerce, product innovation and updated marketing approaches are cited as potential supports for ALH and peers. Home-furnishings industry outlook

About Alliance Laundry

Alliance Laundry Holdings, Inc. designs, manufactures and sells commercial laundry equipment. Its products include washers, dryers and related laundry systems for laundromats and customers in sectors such as hospitality, healthcare, multifamily housing and other institutional markets. The company serves customers worldwide through brands including Speed Queen, UniMac, Huebsch, Primus and IPSO. Its offerings include equipment for self-service and on-premises laundry operations, along with related parts and services.