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

Zacks Research lowered shares of Alliance Laundry (NYSE:ALH) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Separately, Weiss Ratings began coverage on Alliance Laundry in a report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Alliance Laundry Trading Up 1.2%

Alliance Laundry stock traded up $0.28 during mid-day trading on Monday, hitting $23.00. The company had a trading volume of 13,338 shares, compared to its average volume of 1,059,971. Alliance Laundry has a 12-month low of $20.10 and a 12-month high of $27.48. The firm has a market cap of $4.54 billion and a PE ratio of 82.14.

Institutional Investors Weigh In On Alliance Laundry

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

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.