Zacks Research Downgrades Alliance Laundry (NYSE:ALH) to Hold

Alliance Laundry (NYSE:ALH) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

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

Alliance Laundry Stock Performance

Shares of ALH stock opened at $27.02 on Monday. The company has a market cap of $5.37 billion and a P/E ratio of 32.56. 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 business’s 50-day moving average is $25.64. Alliance Laundry 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 results on Tuesday, May 12th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $426.89 million during the quarter. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. Sell-side analysts forecast that Alliance Laundry will post 1.29 EPS for the current year.

Insider Activity

In related news, CAO Brian Christopher Sikora sold 17,500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $26.15, for a total transaction of $457,625.00. Following the sale, the chief accounting officer owned 13,951 shares in the company, valued at approximately $364,818.65. This trade represents a 55.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Leigh Hannan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $26.27, for a total transaction of $157,620.00. Following the transaction, the insider owned 292,066 shares of the company’s stock, valued at approximately $7,672,573.82. This represents a 2.01% decrease in their ownership of the stock. 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 90 days, insiders sold 118,056 shares of company stock worth $3,058,727. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in Alliance Laundry by 74.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock worth $30,000 after acquiring an additional 608 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Alliance Laundry by 11,068.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,787 shares of the company’s stock valued at $47,000 after purchasing an additional 1,771 shares in the last quarter. Comerica Bank acquired a new stake in shares of Alliance Laundry in the 4th quarter valued at approximately $50,000. California State Teachers Retirement System bought a new stake in shares of Alliance Laundry during the 4th quarter valued at approximately $55,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Alliance Laundry during the 4th quarter valued at approximately $63,000.

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.