Allison Transmission (NYSE:ALSN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $45.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.94% from the stock’s previous close.
According to Zacks, “Allison Transmission Holdings, Inc. is engaged in the manufacturing of fully-automatic transmissions for medium- and heavy-duty commercial vehicles, medium- and heavy-tactical U.S. military vehicles and hybrid-propulsion systems for transit buses. The Company’s products are used in a variety of applications including on-highway trucks, buses, motorhomes, off-highway vehicles and equipment and military vehicles. Allison Transmission Holdings, Inc. is headquartered in Indianapolis, Indiana. “
Several other equities analysts have also commented on ALSN. BidaskClub raised shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. JPMorgan Chase & Co. raised their target price on shares of Allison Transmission from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Piper Jaffray Companies set a $26.00 target price on shares of Allison Transmission and gave the company a “sell” rating in a report on Wednesday, November 1st. Deutsche Bank set a $37.00 target price on shares of Allison Transmission and gave the company a “sell” rating in a report on Wednesday, November 1st. Finally, Stifel Nicolaus raised their target price on shares of Allison Transmission from $41.00 to $45.00 and gave the company a “hold” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Allison Transmission presently has an average rating of “Hold” and a consensus target price of $43.82.
Allison Transmission (NYSE ALSN) traded down $0.09 during mid-day trading on Wednesday, reaching $39.15. 1,877,145 shares of the company’s stock traded hands, compared to its average volume of 1,515,459. The company has a current ratio of 1.52, a quick ratio of 1.15 and a debt-to-equity ratio of 3.68. Allison Transmission has a 52-week low of $32.93 and a 52-week high of $45.69. The company has a market cap of $5,560.00, a price-to-earnings ratio of 11.41, a P/E/G ratio of 1.38 and a beta of 1.14.
Allison Transmission (NYSE:ALSN) last released its earnings results on Wednesday, February 14th. The auto parts company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.62 by $0.89. Allison Transmission had a net margin of 22.28% and a return on equity of 60.52%. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $576.57 million. During the same period last year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. equities research analysts forecast that Allison Transmission will post 2.85 EPS for the current fiscal year.
Allison Transmission announced that its Board of Directors has initiated a stock repurchase 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. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider David S. Graziosi sold 46,200 shares of Allison Transmission stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $45.03, for a total transaction of $2,080,386.00. Following the sale, the insider now directly owns 240,323 shares in the company, valued at approximately $10,821,744.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eric C. Scroggins sold 4,330 shares of Allison Transmission stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $44.00, for a total transaction of $190,520.00. Following the sale, the vice president now owns 20,310 shares in the company, valued at $893,640. The disclosure for this sale can be found here. Insiders have sold a total of 3,405,629 shares of company stock worth $149,746,270 over the last ninety days. 7.90% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Allison Transmission by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 850,469 shares of the auto parts company’s stock worth $31,918,000 after buying an additional 18,797 shares during the period. Strategic Global Advisors LLC acquired a new stake in Allison Transmission during the 3rd quarter worth approximately $298,000. Neuberger Berman Group LLC boosted its position in Allison Transmission by 0.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,732,598 shares of the auto parts company’s stock worth $102,554,000 after buying an additional 10,476 shares during the period. Alps Advisors Inc. acquired a new stake in Allison Transmission during the 3rd quarter worth approximately $510,000. Finally, Burgundy Asset Management Ltd. boosted its position in Allison Transmission by 6.6% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 5,114,840 shares of the auto parts company’s stock worth $191,960,000 after buying an additional 318,821 shares during the period.
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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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