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

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

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

Alliance Laundry Stock Up 0.2%

Shares of Alliance Laundry stock opened at $19.57 on Friday. The company has a debt-to-equity ratio of 4.54, a quick ratio of 1.09 and a current ratio of 1.40. The stock has a market cap of $3.87 billion and a P/E ratio of 37.63. The stock has a 50 day moving average price of $21.87. 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 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 firm had revenue of $434.87 million during the quarter, compared to analyst estimates of $424.12 million. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BDT Capital Partners LLC acquired a new stake in shares of Alliance Laundry in the fourth quarter worth $2,864,297,000. Capital International Investors acquired a new position in Alliance Laundry during the fourth quarter valued at $101,498,000. Vanguard Group Inc. purchased a new stake in Alliance Laundry in the fourth quarter valued at $76,161,000. Norges Bank purchased a new stake in Alliance Laundry in the fourth quarter valued at $55,962,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Alliance Laundry during the 4th quarter worth about $48,234,000.

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.