Alliance Laundry (NYSE:ALH) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Alliance Laundry (NYSE:ALH) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other brokerages have also recently commented on ALH. Weiss Ratings started coverage on shares of Alliance Laundry in a research note on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Zacks Research cut Alliance Laundry from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Citigroup cut their target price on Alliance Laundry from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, March 13th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.00.

Alliance Laundry Price Performance

Shares of Alliance Laundry stock opened at $19.57 on Friday. Alliance Laundry has a 52-week low of $18.64 and a 52-week high of $27.48. The company has a market cap of $3.87 billion and a price-to-earnings ratio of 37.63. The company has a debt-to-equity ratio of 4.54, a current ratio of 1.40 and a quick ratio of 1.09. The firm has a fifty day simple moving average of $21.87.

Alliance Laundry (NYSE:ALH) last issued its earnings results on Thursday, March 12th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $434.87 million for the quarter, compared to analyst estimates of $424.12 million. The company’s quarterly revenue was up 10.1% on a year-over-year basis.

Institutional Trading of Alliance Laundry

A number of hedge funds and other institutional investors have recently made changes to their positions in ALH. Massachusetts Financial Services Co. MA bought a new position in shares of Alliance Laundry in the fourth quarter valued at about $14,951,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Alliance Laundry during the 4th quarter worth about $3,209,000. Teacher Retirement System of Texas bought a new stake in Alliance Laundry during the 4th quarter worth about $6,105,000. Vanguard Group Inc. acquired a new stake in Alliance Laundry in the 4th quarter valued at about $76,161,000. Finally, UBS Group AG acquired a new stake in Alliance Laundry in the 4th quarter valued at about $19,411,000.

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.