Alliance Laundry (NYSE:ALH) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Alliance Laundry (NYSE:ALH) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on ALH. Citigroup raised their price objective on Alliance Laundry from $30.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Robert W. Baird increased their target price on Alliance Laundry from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Morgan Stanley upped their price objective on Alliance Laundry from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Alliance Laundry presently has an average rating of “Hold” and an average target price of $30.33.

Alliance Laundry Price Performance

Shares of NYSE:ALH opened at $27.02 on Monday. Alliance Laundry has a one year low of $18.64 and a one year high of $27.48. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.05 and a current ratio of 1.37. The company has a market cap of $5.37 billion and a P/E ratio of 32.56. The company has a 50 day moving average of $25.64.

Alliance Laundry (NYSE:ALH) last posted its earnings results 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 company had revenue of $426.89 million for the quarter. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. As a group, analysts expect that Alliance Laundry will post 1.29 EPS for the current year.

Insider Buying and Selling at Alliance Laundry

In other Alliance Laundry news, insider Amanda Brooke Kopetsky sold 12,747 shares of Alliance Laundry stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $27.04, for a total transaction of $344,678.88. Following the transaction, the insider directly owned 7,331 shares of the company’s stock, valued at approximately $198,230.24. The trade was a 63.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jan Gommaar M. Vleugels sold 75,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.64, for a total value of $1,923,000.00. Following the completion of the sale, the chief operating officer owned 599,563 shares in the company, valued at $15,372,795.32. This trade represents a 11.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 118,056 shares of company stock worth $3,058,727. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Alliance Laundry

A number of hedge funds and other institutional investors have recently made changes to their positions in ALH. Teacher Retirement System of Texas acquired a new stake in Alliance Laundry during the 4th quarter valued at approximately $6,105,000. Element Capital Management LLC acquired a new position in shares of Alliance Laundry in the 4th quarter worth approximately $2,544,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Alliance Laundry in the 4th quarter valued at $3,209,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Alliance Laundry in the 4th quarter valued at $14,951,000. Finally, Norges Bank acquired a new stake in shares of Alliance Laundry during the fourth quarter worth $55,962,000.

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.