3,221,038 Shares in Alliance Laundry Holdings Inc. $ALH Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 3.22 million Alliance Laundry shares worth approximately $85.4 million, giving it a 1.62% stake. Several other major institutions, including Vanguard, Norges Bank and Capital International Investors, also opened positions.
• Alliance Laundry exceeded quarterly earnings expectations, reporting $0.41 in EPS versus the $0.35 consensus on $476.75 million in revenue. Analysts expect $1.34 in full-year EPS.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $31.20, although insiders sold more than $5.4 million of stock over the past 90 days.

BlackRock Inc. purchased a new stake in shares of Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,221,038 shares of the company's stock, valued at approximately $85,422,000. BlackRock Inc. owned about 1.62% of Alliance Laundry at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALH. BDT Capital Partners LLC bought a new position in shares of Alliance Laundry during the 4th quarter valued at approximately $2,864,297,000. Capital International Investors purchased a new stake in Alliance Laundry during the fourth quarter valued at $101,498,000. Vanguard Group Inc. purchased a new stake in Alliance Laundry during the fourth quarter valued at $76,161,000. Norges Bank bought a new position in Alliance Laundry during the fourth quarter valued at $55,962,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Alliance Laundry in the 4th quarter worth $48,234,000.

Alliance Laundry Stock Up 0.2%

Shares of NYSE ALH opened at $23.28 on Friday. The company has a market cap of $4.63 billion and a P/E ratio of 25.58. Alliance Laundry Holdings Inc. has a 1 year low of $18.64 and a 1 year high of $28.23. 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 firm has a 50-day simple moving average of $25.63 and a two-hundred day simple moving average of $24.26.

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

Insider Activity at Alliance Laundry

In related news, insider Amanda Brooke Kopetsky sold 13,472 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $27.00, for a total value of $363,744.00. Following the completion of the sale, the insider owned 7,331 shares in the company, valued at approximately $197,937. The trade was a 64.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Leigh Hannan sold 6,000 shares of the 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 transaction, the insider directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 212,528 shares of company stock worth $5,439,521. Insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

ALH has been the topic of several recent research reports. BMO Capital Markets upped their target price on shares of Alliance Laundry from $30.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, August 17th. Zacks Research cut Alliance Laundry from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings restated a "hold (c)" rating on shares of Alliance Laundry in a research report on Friday, August 7th. Citigroup raised their price objective on Alliance Laundry from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley lifted their target price on Alliance Laundry from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alliance Laundry has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Alliance Laundry Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.