Wall Street Zen Upgrades Alliance Laundry (NYSE:ALH) to “Buy”

Alliance Laundry (NYSE:ALH) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

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

Alliance Laundry Stock Down 0.4%

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

Alliance Laundry (NYSE:ALH) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $434.87 million during the quarter, compared to analysts’ expectations of $424.12 million. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year.

Institutional Trading of Alliance Laundry

A number of institutional investors and hedge funds have recently made changes to their positions in ALH. Corient Private Wealth LLC purchased a new position in shares of Alliance Laundry in the 4th quarter worth $657,000. Caitong International Asset Management Co. Ltd purchased a new stake in Alliance Laundry during the fourth quarter valued at about $63,000. T. Rowe Price Investment Management Inc. purchased a new stake in Alliance Laundry during the fourth quarter valued at about $45,746,000. Invesco Ltd. acquired a new stake in Alliance Laundry during the fourth quarter worth about $562,000. Finally, XTX Topco Ltd acquired a new stake in Alliance Laundry during the fourth quarter worth about $2,048,000.

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.