Alliance Laundry (NYSE:ALH) Shares Gap Up on Earnings Beat

Key Points

• Alliance Laundry beat quarterly earnings expectations, reporting EPS of $0.38 versus the $0.32 consensus, on revenue of $460.92 million. Shares opened higher after the report.
• Analysts have a “Moderate Buy” consensus rating and a $30.20 average price target; recent firms raised targets to between $31 and $34.
• COO Gommaar Vleugels sold 75,000 shares for about $1.58 million under a pre-arranged trading plan, reducing his stake by 16.68%.

Alliance Laundry Holdings Inc. (NYSE:ALH - Get Free Report)'s share price gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $24.04, but opened at $24.93. Alliance Laundry shares last traded at $24.0350, with a volume of 279,909 shares changing hands.

The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.32 by $0.06. The firm had revenue of $460.92 million during the quarter. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Robert W. Baird increased their price target on Alliance Laundry from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. BMO Capital Markets boosted their price target on Alliance Laundry from $30.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. JPMorgan Chase & Co. upped their price objective on Alliance Laundry from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Weiss Ratings raised Alliance Laundry from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, November 4th. Finally, Zacks Research raised Alliance Laundry from a "hold" rating to a "strong-buy" rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.20.

Insider Activity

In other Alliance Laundry news, COO Gommaar Vleugels sold 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were 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 in the company, valued at $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 is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

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

Alliance Laundry Stock Down 0.0%

The stock's fifty day moving average is $21.71 and its two-hundred day moving average is $23.50. The company has a current ratio of 1.43, a quick ratio of 1.14 and a debt-to-equity ratio of 3.35. The company has a market capitalization of $4.78 billion and a PE ratio of 26.52.

About Alliance Laundry

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.