Alliance Laundry (NYSE:ALH) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Alliance Laundry (NYSE:ALH) had its price target trimmed by JPMorgan Chase & Co. from $32.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on ALH. Citigroup reduced their price objective on Alliance Laundry from $31.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. BMO Capital Markets upped their target price on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Zacks Research raised shares of Alliance Laundry from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Weiss Ratings upgraded shares of Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, November 4th. Finally, Robert W. Baird lowered their price target on shares of Alliance Laundry from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Alliance Laundry currently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

Alliance Laundry Trading Down 0.8%

ALH opened at $23.56 on Wednesday. The stock has a market capitalization of $4.63 billion and a PE ratio of 17.73. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.14 and a current ratio of 1.35. Alliance Laundry has a one year low of $18.64 and a one year high of $28.23. The business’s 50 day moving average price is $21.84 and its 200 day moving average price is $23.54.

Alliance Laundry (NYSE:ALH) last posted its earnings results on Tuesday, November 10th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The company had revenue of $460.92 million for the quarter. Alliance Laundry had a net margin of 11.74% and a return on equity of 59.70%. As a group, equities research analysts expect that Alliance Laundry will post 1.38 EPS for the current year.

Insider Activity at Alliance Laundry

In other news, COO Gommaar Vleugels sold 75,000 shares of Alliance Laundry stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $21.05, for a total value of $1,578,750.00. Following the transaction, the chief operating officer directly owned 374,563 shares of the company’s stock, valued at $7,884,551.15. The trade was a 16.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by insiders.

Institutional Trading of Alliance Laundry

Several hedge funds and other institutional investors have recently made changes to their positions in ALH. BDT Capital Partners LLC acquired a new position in shares of Alliance Laundry during the second quarter worth about $3,732,734,978. BlackRock Inc. acquired a new stake in Alliance Laundry in the second quarter valued at about $85,422,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Alliance Laundry by 64.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,960,037 shares of the company’s stock worth $63,049,000 after buying an additional 1,163,637 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Alliance Laundry in the 2nd quarter valued at approximately $14,037,000. Finally, Bank of New York Mellon Corp purchased a new position in Alliance Laundry in the second quarter worth $3,299,000.

Alliance Laundry News Roundup

Here’s some of the latest news about ALH:

• Positive Sentiment: Citigroup raised its target to $28 and maintained a Buy rating. The new target implies upside from the cited share price. Citigroup target increase
• Positive Sentiment: Recent quarterly results beat estimates: ALH reported EPS of $0.38 versus the $0.32 consensus, with revenue of $460.92 million. Shares previously gapped higher after the earnings release. Shares gap up after earnings
• Neutral Sentiment: Industry commentary points to both headwinds and opportunities. Macro pressures challenge home-furnishings businesses, while digitization, e-commerce, product innovation and updated marketing approaches are cited as potential supports for ALH and peers. Home-furnishings industry outlook

Alliance Laundry Company Profile

Alliance Laundry Holdings, Inc. designs, manufactures and sells commercial laundry equipment. Its products include washers, dryers and related laundry systems for laundromats and customers in sectors such as hospitality, healthcare, multifamily housing and other institutional markets. The company serves customers worldwide through brands including Speed Queen, UniMac, Huebsch, Primus and IPSO. Its offerings include equipment for self-service and on-premises laundry operations, along with related parts and services.