Alliance Laundry (NYSE:ALH) Stock Price Target Cut by Citigroup

Key Points

• Citigroup lowered Alliance Laundry’s price target from $31 to $26 while maintaining a “buy” rating, implying 22.27% upside from the stock’s $21.27 price.
• Analyst sentiment remains favorable overall, with four buy ratings and three holds producing a “Moderate Buy” consensus and an average target of $30.20.
• Alliance Laundry beat quarterly earnings expectations, reporting $0.41 in EPS versus the $0.35 consensus estimate, while insiders have sold $3.96 million worth of shares over the past 90 days.

Alliance Laundry (NYSE:ALH - Get Free Report) had its price target cut by analysts at Citigroup from $31.00 to $26.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 22.27% from the company's current price.

Several other research firms also recently commented on ALH. Robert W. Baird lifted their price objective on shares of Alliance Laundry from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their target price on Alliance Laundry from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. BMO Capital Markets upped their target price on Alliance Laundry from $30.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, August 17th. Weiss Ratings lowered Alliance Laundry from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday. Finally, Zacks Research cut Alliance Laundry from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Alliance Laundry has an average rating of "Moderate Buy" and a consensus target price of $30.20.

Alliance Laundry Stock Down 0.0%

Alliance Laundry stock traded down $0.01 during midday trading on Monday, reaching $21.27. The company's stock had a trading volume of 711,071 shares, compared to its average volume of 978,688. 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 has a market capitalization of $4.23 billion and a P/E ratio of 23.37. The stock's 50-day simple moving average is $23.12 and its 200-day simple moving average is $24.21. Alliance Laundry has a 52-week low of $18.64 and a 52-week high of $28.23.

Alliance Laundry (NYSE:ALH - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $476.75 million for the quarter. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%. On average, sell-side analysts expect that Alliance Laundry will post 1.34 EPS for the current year.

Insider Buying and Selling

In other Alliance Laundry news, insider Samantha Hannan sold 6,000 shares of Alliance Laundry stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.80, for a total transaction of $160,800.00. Following the completion of the transaction, the insider owned 286,066 shares in the company, valued at approximately $7,666,568.80. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amanda Kopetsky sold 13,472 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total value of $363,744.00. Following the completion of the transaction, the insider directly owned 7,331 shares of the company's stock, valued at approximately $197,937. This trade represents a 64.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 169,472 shares of company stock valued at $3,959,544 over the last 90 days. Insiders own 7.60% of the company's stock.

Institutional Trading of Alliance Laundry

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC lifted its position in shares of Alliance Laundry by 3.5% during the 2nd quarter. HighTower Advisors LLC now owns 16,410 shares of the company's stock valued at $435,000 after buying an additional 556 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Alliance Laundry by 74.5% in 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 during the period. Janney Montgomery Scott LLC increased its holdings in Alliance Laundry by 7.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,861 shares of the company's stock worth $267,000 after acquiring an additional 885 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Alliance Laundry in the 2nd quarter worth $36,000. Finally, GAMMA Investing LLC increased its holdings in Alliance Laundry by 11,068.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,787 shares of the company's stock worth $47,000 after acquiring an additional 1,771 shares in the last quarter.

Alliance Laundry Company Profile

Alliance Laundry is a commercial and residential laundry equipment company headquartered in Ripon, Wisconsin. The company designs, manufactures and markets washing machines, dryers and related laundry systems for consumers, laundromats, multifamily housing, hospitality businesses, healthcare facilities, correctional institutions and other commercial customers.

Its portfolio includes equipment and laundry solutions sold under brands such as Speed Queen, UniMac, Huebsch, IPSO and Primus.

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