Allison Transmission (NYSE:ALSN) released its quarterly earnings results on Wednesday. The auto parts company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.89, Bloomberg Earnings reports. The business had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $576.57 million. Allison Transmission had a net margin of 16.34% and a return on equity of 45.65%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share.
Allison Transmission (NYSE ALSN) traded up $0.53 on Wednesday, hitting $42.25. The stock had a trading volume of 1,890,000 shares, compared to its average volume of 1,340,000. The company has a current ratio of 1.50, a quick ratio of 1.15 and a debt-to-equity ratio of 4.57. The stock has a market cap of $5,990.00, a price-to-earnings ratio of 18.61, a PEG ratio of 1.51 and a beta of 1.14. Allison Transmission has a 12-month low of $32.93 and a 12-month high of $45.69.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, February 16th. Allison Transmission’s dividend payout ratio is currently 26.43%.
In other news, Director James A. Star sold 322,130 shares of Allison Transmission stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $44.49, for a total value of $14,331,563.70. Following the completion of the transaction, the director now owns 41,450 shares of the company’s stock, valued at approximately $1,844,110.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David S. Graziosi sold 46,200 shares of Allison Transmission stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.03, for a total value of $2,080,386.00. Following the completion of the transaction, the insider now directly owns 240,323 shares of the company’s stock, valued at approximately $10,821,744.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,413,129 shares of company stock valued at $150,042,595. 7.90% of the stock is owned by insiders.
Allison Transmission declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Several analysts recently weighed in on ALSN shares. BidaskClub upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a report on Saturday, October 21st. JPMorgan Chase & Co. raised their price objective on Allison Transmission from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Piper Jaffray Companies set a $26.00 price objective on Allison Transmission and gave the company a “sell” rating in a research report on Wednesday, November 1st. Deutsche Bank set a $37.00 price objective on Allison Transmission and gave the company a “sell” rating in a research report on Wednesday, November 1st. Finally, Stifel Nicolaus raised their price objective on Allison Transmission from $41.00 to $45.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.55.
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About Allison Transmission
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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