Alliance Laundry (NYSE:ALH) Stock Bumped Up to Strong-Buy by Zacks Research

Key Points

• Zacks Research upgraded Alliance Laundry to “strong buy” from “hold,” while the broader analyst consensus remains “moderate buy” with an average price target of $30.20.
• Alliance Laundry shares opened at $21.41, near their 52-week range of $18.64 to $28.23. The company recently reported quarterly EPS of $0.41, beating expectations of $0.35, on revenue of $476.75 million.
• Insiders sold 156,000 shares worth approximately $3.6 million over the past 90 days, although institutional investors including Birch Hill Investment Advisors and Sterling Capital Management increased their holdings.

Alliance Laundry (NYSE:ALH - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday, Zacks reports.

A number of other research analysts have also issued reports on the company. Weiss Ratings lowered Alliance Laundry from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. Citigroup lowered their price objective on Alliance Laundry from $31.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, October 12th. JPMorgan Chase & Co. increased their target price on Alliance Laundry from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Robert W. Baird raised their target price on Alliance Laundry from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Finally, BMO Capital Markets boosted their price target on shares of Alliance Laundry from $30.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.20.

Alliance Laundry Stock Up 1.2%

Shares of NYSE ALH opened at $21.41 on Monday. The firm's 50-day moving average price is $21.91 and its two-hundred day moving average price is $23.51. Alliance Laundry has a 52-week low of $18.64 and a 52-week high of $28.23. The stock has a market capitalization of $4.26 billion and a P/E ratio of 23.53.

Alliance Laundry (NYSE:ALH - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. The company had revenue of $476.75 million during the quarter. As a group, equities research analysts expect that Alliance Laundry will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Alliance Laundry news, insider Samantha Hannan sold 6,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.80, for a total value of $160,800.00. Following the completion of the sale, the insider directly owned 286,066 shares in the company, valued at $7,666,568.80. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jan Gommaar M. Vleugels sold 75,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 374,563 shares of the company's stock, valued at $7,884,551.15. This trade represents a 16.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 156,000 shares of company stock valued at $3,595,800. Company insiders own 7.60% of the company's stock.

Hedge Funds Weigh In On Alliance Laundry

Several hedge funds have recently modified their holdings of the company. Straight Path Wealth Management bought a new stake in shares of Alliance Laundry in the 3rd quarter worth approximately $1,424,000. Sterling Capital Management LLC boosted its holdings in Alliance Laundry by 1,277.3% during the third quarter. Sterling Capital Management LLC now owns 2,121 shares of the company's stock worth $45,000 after buying an additional 1,967 shares in the last quarter. Birch Hill Investment Advisors LLC grew its position in Alliance Laundry by 441.7% in the third quarter. Birch Hill Investment Advisors LLC now owns 106,235 shares of the company's stock worth $2,263,000 after buying an additional 86,625 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Alliance Laundry in the third quarter worth approximately $182,000. Finally, Diversified Management Inc. bought a new position in shares of Alliance Laundry in the third quarter valued at $1,034,000.

Alliance Laundry Company Profile

Alliance Laundry Holdings, Inc is a commercial and residential laundry equipment company headquartered in Ripon, Wisconsin. Through its operating businesses, the company designs, manufactures and distributes washing machines, dryers and related laundry systems for commercial, institutional and consumer customers.

Its product portfolio includes coin-operated and on-premises laundry equipment, industrial laundry systems, and residential washers and dryers. The company's brands include Speed Queen, Huebsch, UniMac, Primus and IPSO, serving customers such as laundromats, multifamily housing operators, hotels, healthcare facilities, correctional institutions and other organizations with high-volume laundry needs.

Alliance Laundry traces its origins to 1908 and sells its products through distributors and other sales channels in the United States and international markets.

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