Alliance Laundry (NYSE:ALH) Given New $28.00 Price Target at Morgan Stanley

Alliance Laundry (NYSE:ALH) had its target price boosted by Morgan Stanley from $27.00 to $28.00 in a research report report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

ALH has been the topic of a number of other reports. Zacks Research raised Alliance Laundry from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Robert W. Baird boosted their price target on shares of Alliance Laundry from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded Alliance Laundry from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Weiss Ratings raised shares of Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Citigroup lifted their target price on Alliance Laundry from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Alliance Laundry Stock Performance

NYSE ALH opened at $25.18 on Friday. Alliance Laundry has a twelve month low of $18.64 and a twelve month high of $27.48. The company has a quick ratio of 1.05, a current ratio of 1.37 and a debt-to-equity ratio of 4.00. The firm has a market cap of $5.00 billion and a PE ratio of 30.34. The business’s 50-day simple moving average is $23.58.

Alliance Laundry (NYSE:ALH) last released its earnings results on Tuesday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $426.89 million during the quarter. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, equities research analysts forecast that Alliance Laundry will post 1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALH. PNC Financial Services Group Inc. grew its holdings in Alliance Laundry by 74.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock valued at $30,000 after buying an additional 608 shares in the last quarter. Comerica Bank acquired a new stake in shares of Alliance Laundry during the fourth quarter worth $50,000. California State Teachers Retirement System bought a new stake in shares of Alliance Laundry in the fourth quarter valued at about $55,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Alliance Laundry in the fourth quarter valued at about $63,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Alliance Laundry in the fourth quarter valued at about $71,000.

About Alliance Laundry

Alliance Laundry Systems (NYSE: ALH) is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.

Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.