Allison Transmission (NYSE:ALSN) Price Target Raised to $139.00

Allison Transmission (NYSE:ALSN – Free Report) had its price target lifted by Morgan Stanley from $132.00 to $139.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

Several other research firms have also recently commented on ALSN. Weiss Ratings upgraded shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Citigroup upgraded shares of Allison Transmission from a “neutral” rating to a “buy” rating and set a $135.00 price target on the stock in a research report on Monday, October 12th. Wells Fargo & Company dropped their price objective on shares of Allison Transmission from $137.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, October 8th. Zacks Research upgraded shares of Allison Transmission from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Freedom Broker started coverage on shares of Allison Transmission in a research report on Friday, October 2nd. They set a “buy” rating and a $144.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.62.

Read Our Latest Stock Analysis on ALSN

Allison Transmission Stock Performance

Shares of ALSN stock traded up $0.29 during trading hours on Wednesday, reaching $116.74. 1,058,862 shares of the company’s stock were exchanged, compared to its average volume of 662,196. Allison Transmission has a fifty-two week low of $78.77 and a fifty-two week high of $137.62. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $9.64 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.60 and a beta of 1.06. The business has a fifty day moving average price of $116.41 and a 200-day moving average price of $118.48.

Allison Transmission (NYSE:ALSN – Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The auto parts company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.58. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.47 billion. Allison Transmission had a net margin of 11.12% and a return on equity of 43.23%. Allison Transmission’s quarterly revenue was up 121.4% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. Analysts predict that Allison Transmission will post 10.68 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 21st. Allison Transmission’s dividend payout ratio (DPR) is presently 16.67%.

Insider Buying and Selling

In other news, insider Eric Scroggins sold 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total transaction of $131,250.00. Following the sale, the insider directly owned 16,604 shares in the company, valued at approximately $2,075,500. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David Graziosi sold 26,708 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $132.97, for a total value of $3,551,362.76. Following the completion of the transaction, the chief executive officer owned 304,843 shares of the company’s stock, valued at $40,534,973.71. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Allison Transmission

Several institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake in Allison Transmission by 9.1% during the third quarter. Russell Investments Group Ltd. now owns 37,494 shares of the auto parts company’s stock worth $4,246,000 after purchasing an additional 3,140 shares during the period. Eurizon Capital SGR S.p.A. grew its position in Allison Transmission by 20.8% in the third quarter. Eurizon Capital SGR S.p.A. now owns 1,750 shares of the auto parts company’s stock valued at $198,000 after acquiring an additional 301 shares during the period. Fifth Third Bancorp grew its position in Allison Transmission by 33.5% in the third quarter. Fifth Third Bancorp now owns 49,126 shares of the auto parts company’s stock valued at $5,564,000 after acquiring an additional 12,326 shares during the period. New Mexico Educational Retirement Board acquired a new position in Allison Transmission during the third quarter worth $1,959,000. Finally, Maryland State Retirement & Pension System raised its stake in Allison Transmission by 36.3% during the third quarter. Maryland State Retirement & Pension System now owns 5,504 shares of the auto parts company’s stock worth $623,000 after acquiring an additional 1,466 shares in the last quarter. Institutional investors own 96.90% of the company’s stock.

Allison Transmission Company Profile

(Get Free Report)

Allison Transmission, Inc designs and manufactures propulsion solutions for commercial, defense and off-highway vehicles. The company is best known for its fully automatic transmissions, which are used in applications including refuse collection, construction, distribution, emergency services, public transportation and mining.

Its product portfolio also includes electric and hybrid-electric propulsion systems, including the eGen Power electric axle and other electrification technologies.

Further Reading

Analyst Recommendations for Allison Transmission (NYSE:ALSN)

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