Alliance Laundry (NYSE:ALH) Price Target Raised to $31.00 at BMO Capital Markets

Alliance Laundry (NYSE:ALH) had its target price hoisted by analysts at BMO Capital Markets from $30.00 to $31.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 21.59% from the company’s previous close.

Several other brokerages also recently commented on ALH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Laundry in a research note on Friday, August 7th. Citigroup raised their price target 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. Morgan Stanley boosted their price objective on shares of Alliance Laundry from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Robert W. Baird increased their target price on shares of Alliance Laundry from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Zacks Research cut Alliance Laundry from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.20.

Alliance Laundry Price Performance

ALH opened at $25.50 on Monday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.43 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $24.18. The firm has a market cap of $5.06 billion and a price-to-earnings ratio of 28.02. Alliance Laundry has a 1 year low of $18.64 and a 1 year high of $28.23.

Alliance Laundry (NYSE:ALH) last announced 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 firm had revenue of $476.75 million during the quarter. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. As a group, analysts predict that Alliance Laundry will post 1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Brian Christopher Sikora sold 17,500 shares of Alliance Laundry stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.15, for a total value of $457,625.00. Following the sale, the chief accounting officer owned 13,951 shares in the company, valued at $364,818.65. The trade was a 55.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Leigh Hannan sold 6,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $7,666,568.80. The trade was a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 137,528 shares of company stock worth $3,583,271. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Alliance Laundry

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in Alliance Laundry by 74.5% during the 1st 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 in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 1,771 shares during the period. Comerica Bank purchased a new position in shares of Alliance Laundry in the 4th quarter valued at approximately $50,000. California State Teachers Retirement System bought a new stake in shares of Alliance Laundry during the fourth quarter valued at approximately $55,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Alliance Laundry during the fourth quarter valued at 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.