2,750,000 Shares in Alliance Laundry Holdings Inc. $ALH Bought by Norges Bank

Norges Bank purchased a new position in shares of Alliance Laundry Holdings Inc. (NYSE:ALH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,750,000 shares of the company’s stock, valued at approximately $55,962,000. Norges Bank owned 1.39% of Alliance Laundry at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Comerica Bank bought a new stake in Alliance Laundry during the fourth quarter worth $50,000. Strs Ohio purchased a new stake in Alliance Laundry in the fourth quarter worth $157,000. Phoenix Financial Ltd. purchased a new stake in Alliance Laundry in the fourth quarter worth $221,000. M&T Bank Corp purchased a new stake in Alliance Laundry in the fourth quarter worth $380,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Alliance Laundry in the fourth quarter worth $3,209,000.

Alliance Laundry Trading Down 0.2%

NYSE ALH opened at $25.01 on Monday. Alliance Laundry Holdings Inc. has a 1-year low of $18.64 and a 1-year high of $27.48. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.05 and a current ratio of 1.37. The firm has a 50-day moving average of $24.13. The company has a market cap of $4.97 billion and a price-to-earnings ratio of 30.13.

Alliance Laundry (NYSE:ALH) last released 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 company had revenue of $426.89 million during the quarter. During the same period in the previous year, the business posted $0.20 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alliance Laundry Holdings Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings raised Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Wall Street Zen raised Alliance Laundry from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Zacks Research upgraded Alliance Laundry from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Morgan Stanley boosted their target price on Alliance Laundry from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Citigroup boosted their target price on Alliance Laundry from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alliance Laundry has a consensus rating of “Moderate Buy” and an average target price of $30.00.

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.