Alberta Investment Management Corp Buys New Position in Alliance Laundry Holdings Inc. $ALH

Alberta Investment Management Corp purchased a new position in Alliance Laundry Holdings Inc. (NYSE:ALH) in the fourth quarter, HoldingsChannel reports. The fund purchased 468,000 shares of the company’s stock, valued at approximately $9,524,000.

Several other institutional investors have also recently made changes to their positions in ALH. Verition Fund Management LLC bought a new position in Alliance Laundry in the fourth quarter worth $2,900,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Alliance Laundry in the 4th quarter worth about $41,620,000. Barclays PLC purchased a new stake in shares of Alliance Laundry in the 4th quarter worth about $1,392,000. Brant Point Investment Management LLC purchased a new position in Alliance Laundry during the 4th quarter valued at about $2,408,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Alliance Laundry during the fourth quarter worth about $326,000.

Alliance Laundry Stock Up 1.9%

NYSE:ALH opened at $26.28 on Wednesday. The stock has a market capitalization of $5.22 billion and a PE ratio of 31.66. The company has a current ratio of 1.37, a quick ratio of 1.05 and a debt-to-equity ratio of 4.00. The firm’s 50 day moving average price is $24.86. Alliance Laundry Holdings Inc. has a 52 week low of $18.64 and a 52 week high of $27.48.

Alliance Laundry (NYSE:ALH) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $426.89 million during the quarter. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, sell-side analysts anticipate that Alliance Laundry Holdings Inc. will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALH shares. Morgan Stanley upped their price objective on shares of Alliance Laundry from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Citigroup boosted their price target on Alliance Laundry from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Robert W. Baird upped their price target on Alliance Laundry from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research raised Alliance Laundry from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings upgraded Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Alliance Laundry Company Profile

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.