Alliance Laundry (NYSE:ALH) Downgraded to “Hold” Rating by Zacks Research

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

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

Alliance Laundry Stock Up 3.5%

Shares of Alliance Laundry stock opened at $27.02 on Monday. 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 capitalization of $5.37 billion and a P/E ratio of 32.56. The company’s 50 day simple 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, topping analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $426.89 million during the quarter. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. On average, research analysts anticipate that Alliance Laundry will post 1.29 earnings per share for the current year.

Insider Transactions at Alliance Laundry

In other Alliance Laundry news, insider Samantha Leigh Hannan sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $26.27, for a total value of $157,620.00. Following the completion of the transaction, the insider owned 292,066 shares in the company, valued at approximately $7,672,573.82. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, insider Amanda Brooke Kopetsky sold 12,747 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $27.04, for a total value of $344,678.88. Following the transaction, the insider directly owned 7,331 shares of the company’s stock, valued at $198,230.24. This represents a 63.49% 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. Insiders have sold a total of 118,056 shares of company stock worth $3,058,727 in the last ninety days. 7.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALH. PNC Financial Services Group Inc. increased its stake in shares of Alliance Laundry by 74.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock valued at $30,000 after purchasing an additional 608 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Alliance Laundry by 7.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,861 shares of the company’s stock worth $267,000 after purchasing an additional 885 shares in the last quarter. GAMMA Investing LLC boosted its position 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 worth $47,000 after purchasing an additional 1,771 shares in the last quarter. Comerica Bank purchased a new stake in shares of Alliance Laundry in the 4th quarter worth approximately $50,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Alliance Laundry in the 4th quarter worth approximately $55,000.

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.