Allison Transmission (NYSE:ALSN) Cut to “Buy” at StockNews.com

Allison Transmission (NYSE:ALSN) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

ALSN has been the topic of several other research reports. Robert W. Baird lifted their price objective on shares of Allison Transmission from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Allison Transmission from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. The Goldman Sachs Group raised their price objective on Allison Transmission from $55.00 to $63.00 and gave the company a “sell” rating in a research report on Tuesday, April 16th. Morgan Stanley began coverage on Allison Transmission in a report on Monday, January 8th. They issued an “equal weight” rating and a $62.00 target price on the stock. Finally, Oppenheimer lifted their target price on Allison Transmission from $67.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.25.

Allison Transmission Price Performance

Shares of ALSN traded down $5.74 during mid-day trading on Friday, reaching $74.52. The stock had a trading volume of 1,656,431 shares, compared to its average volume of 679,988. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 1.48 and a beta of 1.03. Allison Transmission has a 12 month low of $44.68 and a 12 month high of $83.42. The business has a fifty day moving average of $77.83 and a 200 day moving average of $64.33. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.94 and a current ratio of 2.49.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Thursday, April 25th. The auto parts company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $789.00 million during the quarter, compared to analyst estimates of $772.37 million. Allison Transmission had a return on equity of 60.35% and a net margin of 22.17%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.85 earnings per share. Equities analysts predict that Allison Transmission will post 7.74 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David S. Graziosi sold 76,318 shares of Allison Transmission stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total value of $5,385,761.26. Following the completion of the transaction, the chief executive officer now owns 125,479 shares in the company, valued at approximately $8,855,053.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Ryan A. Milburn sold 2,598 shares of Allison Transmission stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $75.40, for a total value of $195,889.20. Following the completion of the transaction, the vice president now owns 14,456 shares in the company, valued at approximately $1,089,982.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David S. Graziosi sold 76,318 shares of Allison Transmission stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total value of $5,385,761.26. Following the completion of the transaction, the chief executive officer now owns 125,479 shares of the company’s stock, valued at approximately $8,855,053.03. The disclosure for this sale can be found here. Insiders have sold a total of 87,843 shares of company stock valued at $6,244,562 in the last quarter. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allison Transmission

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Allison Transmission during the 4th quarter valued at $56,334,000. Federated Hermes Inc. lifted its holdings in shares of Allison Transmission by 62.5% in the 3rd quarter. Federated Hermes Inc. now owns 799,312 shares of the auto parts company’s stock worth $47,207,000 after buying an additional 307,322 shares during the period. Vision One Management Partners LP purchased a new stake in shares of Allison Transmission in the 4th quarter worth $17,848,000. Prevatt Capital Ltd purchased a new stake in shares of Allison Transmission in the 4th quarter worth $14,538,000. Finally, Invesco Ltd. lifted its holdings in shares of Allison Transmission by 17.8% in the 3rd quarter. Invesco Ltd. now owns 1,477,554 shares of the auto parts company’s stock worth $87,264,000 after buying an additional 222,863 shares during the period. Hedge funds and other institutional investors own 96.90% of the company’s stock.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.