Morgan Stanley Forecasts Strong Price Appreciation for Alliance Laundry (NYSE:ALH) Stock

Alliance Laundry (NYSE:ALH – Get Free Report) had its price objective raised by investment analysts at Morgan Stanley from $28.00 to $29.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley‘s price target would indicate a potential upside of 19.76% from the company’s current price.

Other analysts have also issued research reports about the stock. Citigroup decreased their target price on shares of Alliance Laundry from $31.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Weiss Ratings raised shares of Alliance Laundry from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Alliance Laundry from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday. Zacks Research upgraded Alliance Laundry from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. Finally, BMO Capital Markets lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Alliance Laundry currently has an average rating of “Moderate Buy” and an average target price of $29.40.

Get Our Latest Research Report on ALH

Alliance Laundry Price Performance

NYSE ALH traded down $0.85 during trading hours on Wednesday, hitting $24.21. The company had a trading volume of 274,565 shares, compared to its average volume of 972,092. 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 capitalization of $4.81 billion and a price-to-earnings ratio of 26.63. Alliance Laundry has a 52 week low of $18.64 and a 52 week high of $28.23. The firm has a 50 day simple moving average of $21.75 and a 200 day simple moving average of $23.51.

Alliance Laundry (NYSE:ALH – Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.32 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 $460.92 million for the quarter. Equities research analysts expect that Alliance Laundry will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Alliance Laundry

In related 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 value of $1,578,750.00. Following the sale, the chief operating officer directly owned 374,563 shares of the company’s stock, 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 document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Alliance Laundry

Several institutional investors and hedge funds have recently made changes to their positions in ALH. BDT Capital Partners LLC purchased a new stake in shares of Alliance Laundry during the 2nd quarter valued at $3,732,734,978. BlackRock Inc. bought a new position in Alliance Laundry in the second quarter valued at $85,422,000. Bank of America Corp DE bought a new position in Alliance Laundry in the second quarter valued at $14,037,000. Sei Investments Co. raised its position in Alliance Laundry by 9.4% during the first quarter. Sei Investments Co. now owns 266,884 shares of the company’s stock valued at $5,535,000 after purchasing an additional 22,988 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Alliance Laundry by 24.6% during the first quarter. Renaissance Technologies LLC now owns 207,300 shares of the company’s stock valued at $4,299,000 after purchasing an additional 40,900 shares in the last quarter.

Key Stories Impacting Alliance Laundry

Here are a few of the latest stories about ALH:

About Alliance Laundry

(Get Free Report)

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.

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Analyst Recommendations for Alliance Laundry (NYSE:ALH)

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