Massachusetts Financial Services Co. MA Acquires New Stake in Alliance Laundry Holdings Inc. $ALH

Key Points

• Massachusetts Financial Services Co. MA acquired a new stake of 734,677 shares in Alliance Laundry, worth about $14.95 million and representing roughly 0.37% ownership at quarter-end.
• Alliance Laundry beat expectations for the most recent quarter with $0.24 EPS versus $0.23 expected and revenue of $434.87 million (up 10.1% year-over-year).
• Analyst views are mixed: the consensus rating is Hold with a $28.00 price target after Citigroup trimmed its target to $28, while Wall Street Zen upgraded to Buy and Weiss initiated coverage with a Sell.

Massachusetts Financial Services Co. MA acquired a new stake in Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 734,677 shares of the company's stock, valued at approximately $14,951,000. Massachusetts Financial Services Co. MA owned approximately 0.37% of Alliance Laundry at the end of the most recent quarter.

Alliance Laundry Stock Performance

Shares of ALH stock opened at $24.46 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 firm has a 50-day moving average price of $22.06. The company has a market cap of $4.84 billion and a PE ratio of 47.03. Alliance Laundry Holdings Inc. has a 52-week low of $18.64 and a 52-week high of $27.48.

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

Analysts Set New Price Targets

A number of research firms have recently commented on ALH. Zacks Research downgraded shares of Alliance Laundry from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Citigroup reduced their price objective on shares of Alliance Laundry from $32.00 to $28.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Wall Street Zen upgraded shares of Alliance Laundry from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. Finally, Weiss Ratings began coverage on shares of Alliance Laundry in a research note on Wednesday, January 14th. They set a "sell (d+)" rating for the company. 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $28.00.

Alliance Laundry 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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