Allison Transmission Holdings, Inc. (ALSN) Receives “Buy” Rating from Bank of America Corporation
Several other research analysts also recently weighed in on the company. Piper Jaffray Companies reiterated an underweight rating and set a $25.00 price target (down previously from $31.00) on shares of Allison Transmission Holdings in a research note on Wednesday, August 30th. Deutsche Bank AG downgraded Allison Transmission Holdings from a hold rating to a sell rating and cut their price target for the stock from $43.00 to $33.00 in a research note on Tuesday, September 5th. ValuEngine upgraded Allison Transmission Holdings from a hold rating to a buy rating in a research note on Friday, September 1st. Longbow Research downgraded Allison Transmission Holdings from a buy rating to a neutral rating in a research note on Thursday, October 12th. Finally, Royal Bank Of Canada restated a buy rating on shares of Allison Transmission Holdings in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $44.18.
Allison Transmission Holdings (NYSE ALSN) traded up $0.04 during mid-day trading on Thursday, hitting $39.49. The stock had a trading volume of 1,229,400 shares, compared to its average volume of 1,548,991. The company has a debt-to-equity ratio of 4.57, a current ratio of 1.50 and a quick ratio of 1.15. The company has a market cap of $5,598.13, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24. Allison Transmission Holdings has a 12 month low of $32.18 and a 12 month high of $45.69.
Allison Transmission Holdings (NYSE:ALSN) last posted its quarterly earnings results on Monday, October 30th. The auto parts company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.27. The company had revenue of $595.00 million during the quarter, compared to the consensus estimate of $533.53 million. Allison Transmission Holdings had a return on equity of 45.65% and a net margin of 16.34%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 EPS. analysts predict that Allison Transmission Holdings will post 2.49 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Allison Transmission Holdings, Inc. (ALSN) Receives “Buy” Rating from Bank of America Corporation” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/allison-transmission-holdings-inc-alsn-receives-buy-rating-from-bank-of-america-corporation-2/1724110.html.
Allison Transmission Holdings announced that its board has authorized a stock repurchase plan on Wednesday, November 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 1.52%. Allison Transmission Holdings’s dividend payout ratio is currently 26.55%.
In other Allison Transmission Holdings news, SVP Randall R. Kirk sold 7,541 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $34.27, for a total value of $258,430.07. Following the sale, the senior vice president now owns 84,494 shares of the company’s stock, valued at approximately $2,895,609.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eric C. Scroggins sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $39.51, for a total value of $296,325.00. Following the completion of the sale, the vice president now directly owns 23,480 shares in the company, valued at approximately $927,694.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,305 shares of company stock worth $2,016,554. Insiders own 7.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Group One Trading L.P. purchased a new position in shares of Allison Transmission Holdings during the 3rd quarter valued at about $105,000. Tower Research Capital LLC TRC raised its holdings in shares of Allison Transmission Holdings by 7,314.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock valued at $195,000 after buying an additional 5,120 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Allison Transmission Holdings by 12.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock valued at $201,000 after buying an additional 607 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Allison Transmission Holdings during the 3rd quarter valued at about $203,000. Finally, Menta Capital LLC purchased a new position in shares of Allison Transmission Holdings during the 2nd quarter valued at about $206,000.
Allison Transmission Holdings Company Profile
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).
Receive News & Ratings for Allison Transmission Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allison Transmission Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.