Bank of America Corp DE Buys New Stake in Alliance Laundry Holdings Inc. $ALH

Key Points

• Bank of America acquired 529,312 shares of Alliance Laundry in the second quarter, worth approximately $14.0 million and representing a 0.27% stake. Several other institutional investors also initiated positions.
• Alliance Laundry reported quarterly EPS of $0.41, beating consensus estimates of $0.35, on revenue of $476.75 million. The stock opened at $21.84, below its 52-week high of $28.23.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and average price target of $31.20; however, insiders have sold 175,472 shares worth about $4.1 million over the past 90 days.

Bank of America Corp DE purchased a new stake in Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 529,312 shares of the company's stock, valued at approximately $14,037,000. Bank of America Corp DE owned 0.27% of Alliance Laundry at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALH. BDT Capital Partners LLC bought a new position in shares of Alliance Laundry in the second quarter worth approximately $3,732,734,978. Man Group plc purchased a new position in Alliance Laundry in the second quarter worth $1,395,000. Jupiter Topco LLC purchased a new stake in Alliance Laundry during the second quarter valued at about $395,000. Legal & General Group Plc bought a new stake in Alliance Laundry during the second quarter worth about $864,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Alliance Laundry during the second quarter worth about $1,534,000.

Alliance Laundry Price Performance

Shares of NYSE:ALH opened at $21.84 on Friday. Alliance Laundry Holdings Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $28.23. The business has a 50-day simple moving average of $23.97 and a two-hundred day simple moving average of $24.10. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.14 and a current ratio of 1.43. The firm has a market cap of $4.34 billion and a price-to-earnings ratio of 24.00.

Alliance Laundry (NYSE:ALH - Get Free Report) last released its quarterly earnings results 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. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%.The firm had revenue of $476.75 million for the quarter. On average, analysts expect that Alliance Laundry Holdings Inc. will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALH shares. BMO Capital Markets lifted their target price on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Robert W. Baird boosted 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. Citigroup raised their price target on Alliance Laundry from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Zacks Research downgraded Alliance Laundry from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Finally, Morgan Stanley raised their target price on shares of 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 assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.20.

Insider Buying and Selling

In other news, COO Jan Gommaar M. Vleugels sold 75,000 shares of Alliance Laundry 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 transaction, the chief operating officer owned 374,563 shares in the company, valued at approximately $7,884,551.15. The trade was a 16.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amanda Kopetsky sold 13,472 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $27.00, for a total transaction of $363,744.00. Following the completion of the sale, the insider owned 7,331 shares of the company's stock, valued at $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. Over the last 90 days, insiders have sold 175,472 shares of company stock worth $4,117,164. Insiders own 7.60% of the company's stock.

Alliance Laundry Company Profile

Alliance Laundry Holdings, Inc NYSE: ALH is a manufacturer of commercial, industrial and residential laundry equipment. Through Alliance Laundry Systems, the company develops and produces washing machines, dryers and related laundry systems for laundromats, multifamily housing, hospitality businesses, healthcare facilities, correctional institutions and other commercial users.

The company's portfolio includes brands such as Speed Queen, Huebsch, UniMac, Primus and IPSO. Its offerings include coin-operated and card-operated machines, on-premises laundry equipment, industrial laundry systems and related controls, parts and services.

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