Alliance Laundry Holdings Inc.'s Lock-Up Period Set To End on April 7th (NYSE:ALH)

Key Points

• Lock-up expires April 7: 37,560,974 shares from Alliance Laundry’s Oct. 9 public offering (initial price $22) will become eligible to trade, potentially increasing selling pressure as insiders and major holders can sell.
• Analysts are mixed with a MarketBeat consensus of Hold and an average price target of $28; ratings range from Sell to Buy and Citi lowered its target from $32 to $28.
• Alliance Laundry recently beat estimates (EPS $0.24 vs. $0.23) and reported revenue up 10.1% year-over-year, but the stock trades around $19.51 (52-week range $18.64–$27.48), well below the consensus target.

Alliance Laundry's (NYSE:ALH - Get Free Report) lock-up period is set to expire on Tuesday, April 7th. Alliance Laundry had issued 37,560,974 shares in its public offering on October 9th. The total size of the offering was $826,341,428 based on an initial share price of $22.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALH shares. Weiss Ratings started coverage on Alliance Laundry in a report on Wednesday, January 14th. They issued a "sell (d+)" rating for the company. Zacks Research downgraded Alliance Laundry from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Wall Street Zen upgraded shares of Alliance Laundry from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Citigroup decreased their price objective on shares of Alliance Laundry from $32.00 to $28.00 and set a "buy" rating for the company in a report on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Alliance Laundry currently has a consensus rating of "Hold" and an average price target of $28.00.

Alliance Laundry Stock Performance

Alliance Laundry stock opened at $19.51 on Tuesday. Alliance Laundry has a 52 week low of $18.64 and a 52 week high of $27.48. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 4.54. The company has a market capitalization of $3.86 billion and a price-to-earnings ratio of 37.52. The business has a 50-day simple moving average of $21.82.

Alliance Laundry (NYSE:ALH - Get Free Report) 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 business had revenue of $434.87 million for the quarter, compared to the consensus estimate of $424.12 million. The business's revenue for the quarter was up 10.1% on a year-over-year basis.

Institutional Investors Weigh In On Alliance Laundry

Several hedge funds and other institutional investors have recently modified their holdings of ALH. Comerica Bank acquired a new position in Alliance Laundry during the 4th quarter valued at $50,000. California State Teachers Retirement System bought a new stake in Alliance Laundry in the 4th quarter valued at $55,000. Caitong International Asset Management Co. Ltd acquired a new stake in Alliance Laundry in the 4th quarter worth $63,000. Russell Investments Group Ltd. acquired a new stake in Alliance Laundry in the 4th quarter worth $71,000. Finally, New York State Common Retirement Fund bought a new position in shares of Alliance Laundry during the 4th quarter worth about $140,000.

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.

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