Zacks Investment Research downgraded shares of MAC-GRAY CORP (TUC) from OUTPERFORM to NEUTRAL on August 13, 2012, with a target price of $15.60.
Mac-Gray Corp. is one of the largest suppliers of card and coin-operated laundry services in multiple housing facilities such as apartment buildings, colleges and universities and public housing complexes. The company is also a significant distributor for several major equipment manufacturers, including Maytag. They also sell commercial laundry equipment to public laundromats, as well as to the real estate industry. The company is also certified by the manufacturers to service the commercial laundry equipment that it sells.
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