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Alliance Laundry (NYSE:ALH) Stock Gets Price Target Boost from Morgan Stanley

Key Points

  • Morgan Stanley raised its price target on Alliance Laundry from $28 to $29 but maintained an “equal weight” rating; the new target implies about 19.8% upside from the cited share price.
  • Analysts’ consensus rating is “Moderate Buy”, with an average target price of $29.40.
  • Alliance Laundry reported quarterly EPS of $0.38, beating the $0.32 consensus estimate, on revenue of $460.92 million.
  • MarketBeat previews the top five stocks to own by December 1st.

Alliance Laundry (NYSE:ALH - Get Free Report) had its target price raised by stock analysts at Morgan Stanley from $28.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 19.76% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Zacks Research raised Alliance Laundry from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 26th. Weiss Ratings upgraded Alliance Laundry from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, November 4th. BMO Capital Markets raised their price objective on Alliance Laundry from $30.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, August 17th. Citigroup cut their price objective on shares of Alliance Laundry from $31.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Finally, Robert W. Baird reduced their target price on shares of Alliance Laundry from $34.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Check Out Our Latest Research Report on ALH

Alliance Laundry Stock Down 3.4%

Shares of NYSE:ALH traded down $0.85 during midday trading on Wednesday, hitting $24.21. 274,565 shares of the company's stock were exchanged, compared to its average volume of 972,092. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.43 and a quick ratio of 1.14. Alliance Laundry has a 12 month low of $18.64 and a 12 month high of $28.23. The company has a market cap of $4.81 billion and a PE ratio of 26.63. The stock has a 50 day moving average price of $21.75 and a 200-day moving average price of $23.51.

Alliance Laundry (NYSE:ALH - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.06. The business had revenue of $460.92 million during the quarter. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. On average, sell-side analysts anticipate that Alliance Laundry will post 1.35 EPS for the current fiscal year.

Insider Activity

In related news, COO Gommaar Vleugels sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $21.05, for a total transaction of $1,578,750.00. Following the completion of the sale, the chief operating officer directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alliance Laundry

Hedge funds have recently made changes to their positions in the business. BDT Capital Partners LLC bought a new stake in shares of Alliance Laundry in the 2nd quarter worth approximately $3,732,734,978. BlackRock Inc. purchased a new stake in shares of Alliance Laundry during the 2nd quarter valued at approximately $85,422,000. Bank of America Corp DE purchased a new stake in shares of Alliance Laundry during the 2nd quarter valued at approximately $14,037,000. Bank of New York Mellon Corp purchased a new stake in shares of Alliance Laundry during the 2nd quarter valued at approximately $3,299,000. Finally, Swiss National Bank bought a new position in Alliance Laundry in the 1st quarter worth approximately $2,024,000.

Alliance Laundry News Roundup

These are some of the ALH news items that stood out recently:

About Alliance Laundry

(Get Free Report)

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.

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Analyst Recommendations for Alliance Laundry (NYSE:ALH)

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