Alliance Laundry (NYSE:ALH) Stock Gets Price Target Reduction from Citigroup

Alliance Laundry (NYSE:ALH) had its target price lowered by Citigroup from $31.00 to $26.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets upped 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. Robert W. Baird lifted their target price on Alliance Laundry from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Zacks Research downgraded shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of Alliance Laundry from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Finally, Weiss Ratings lowered shares of Alliance Laundry from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Alliance Laundry Price Performance

Shares of NYSE ALH opened at $20.65 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.43 and a debt-to-equity ratio of 3.35. The company has a market capitalization of $4.11 billion and a PE ratio of 16.86. The stock’s 50 day moving average price is $22.73 and its 200-day moving average price is $24.24. Alliance Laundry has a twelve month low of $18.64 and a twelve month high of $28.23.

Alliance Laundry (NYSE:ALH) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. The business had revenue of $476.75 million for the quarter. On average, equities analysts anticipate that Alliance Laundry will post 1.34 EPS for the current year.

Insider Transactions at Alliance Laundry

In related news, insider Amanda Kopetsky sold 13,472 shares of Alliance Laundry stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total value of $363,744.00. Following the sale, the insider owned 7,331 shares of the company’s stock, valued at approximately $197,937. The trade was a 64.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Hannan sold 6,000 shares of Alliance Laundry stock in a transaction that occurred on 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 sale, the insider directly owned 286,066 shares in the company, valued at $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. Insiders sold a total of 169,472 shares of company stock worth $3,959,544 in the last quarter. Insiders own 7.60% of the company’s stock.

Institutional Trading of Alliance Laundry

Large investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Alliance Laundry during the 2nd quarter valued at $36,000. PNC Financial Services Group Inc. grew its stake in shares of Alliance Laundry by 74.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock worth $30,000 after acquiring an additional 608 shares during the period. GAMMA Investing LLC grew its stake in shares of Alliance Laundry by 11,068.8% during 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 during the period. State of Wyoming purchased a new stake in Alliance Laundry in the 2nd quarter worth about $74,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Alliance Laundry in the 4th quarter worth about $63,000.

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.