Allison Transmission Holdings, Inc. (NYSE:ALSN) received a $26.00 price target from equities researchers at Piper Jaffray Companies in a report released on Friday. The firm currently has a “sell” rating on the auto parts company’s stock. Piper Jaffray Companies’ price objective points to a potential downside of 37.38% from the stock’s current price.
Several other analysts have also commented on the company. Bank of America Corporation set a $52.00 price objective on Allison Transmission Holdings and gave the stock a “buy” rating in a report on Tuesday. J P Morgan Chase & Co lowered Allison Transmission Holdings from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $39.00 in a report on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Allison Transmission Holdings in a report on Wednesday, August 2nd. Robert W. Baird raised Allison Transmission Holdings from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $43.00 to $51.00 in a report on Tuesday, August 1st. Finally, BidaskClub raised Allison Transmission Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $44.18.
Shares of Allison Transmission Holdings (ALSN) opened at $41.52 on Friday. The company has a market capitalization of $5,875.98, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.66 and a beta of 1.24. Allison Transmission Holdings has a fifty-two week low of $31.60 and a fifty-two week high of $45.69. The company has a quick ratio of 1.15, a current ratio of 1.50 and a debt-to-equity ratio of 4.57.
Allison Transmission Holdings (NYSE:ALSN) last posted its earnings results on Monday, October 30th. The auto parts company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.27. The business had revenue of $595.00 million during the quarter, compared to analyst estimates of $533.53 million. Allison Transmission Holdings had a return on equity of 45.65% and a net margin of 16.34%. The company’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. sell-side analysts expect that Allison Transmission Holdings will post 2.49 earnings per share for the current year.
Allison Transmission Holdings declared that its board has authorized a stock buyback plan on Wednesday, November 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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In other news, CFO David S. Graziosi sold 39,264 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.23, for a total value of $1,461,798.72. Following the transaction, the chief financial officer now directly owns 233,387 shares in the company, valued at $8,688,998.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Randall R. Kirk sold 7,541 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $34.27, for a total value of $258,430.07. Following the completion of the transaction, the senior vice president now owns 84,494 shares in the company, valued at $2,895,609.38. The disclosure for this sale can be found here. 7.90% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Group One Trading L.P. purchased a new stake in shares of Allison Transmission Holdings in the third quarter worth about $105,000. Tower Research Capital LLC TRC lifted its position in shares of Allison Transmission Holdings by 7,314.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock worth $195,000 after buying an additional 5,120 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Allison Transmission Holdings by 12.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after buying an additional 607 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Allison Transmission Holdings in the third quarter worth about $203,000. Finally, Menta Capital LLC purchased a new stake in shares of Allison Transmission Holdings in the second quarter worth about $206,000.
About Allison Transmission Holdings
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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