Wells Fargo & Company Increases Allison Transmission (NYSE:ALSN) Price Target to $127.00

Allison Transmission (NYSE:ALSN) had its price objective lifted by analysts at Wells Fargo & Company from $98.00 to $127.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.98% from the company’s previous close.

Several other brokerages have also recently issued reports on ALSN. JPMorgan Chase & Co. upped their target price on shares of Allison Transmission from $87.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Citigroup boosted their price objective on Allison Transmission from $110.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday. Raymond James Financial raised their price objective on Allison Transmission from $110.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Monday, December 22nd. Morgan Stanley lifted their target price on Allison Transmission from $97.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Weiss Ratings upgraded Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allison Transmission presently has an average rating of “Hold” and an average price target of $111.11.

Allison Transmission Price Performance

ALSN traded up $1.81 during trading hours on Thursday, hitting $124.53. The company’s stock had a trading volume of 443,527 shares, compared to its average volume of 860,083. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.27 and a beta of 0.97. The business’s 50-day moving average price is $108.85 and its 200-day moving average price is $94.42. The company has a current ratio of 3.82, a quick ratio of 3.06 and a debt-to-equity ratio of 1.30. Allison Transmission has a 12 month low of $76.01 and a 12 month high of $125.66.

Insiders Place Their Bets

In other news, SVP John Coll sold 1,791 shares of Allison Transmission stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total transaction of $176,932.89. Following the completion of the sale, the senior vice president directly owned 10,021 shares in the company, valued at approximately $989,974.59. This trade represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allison Transmission

Several institutional investors have recently made changes to their positions in ALSN. Chicago Partners Investment Group LLC acquired a new position in shares of Allison Transmission in the 3rd quarter valued at about $614,000. Mackenzie Financial Corp grew its holdings in Allison Transmission by 2,937.4% during the second quarter. Mackenzie Financial Corp now owns 185,345 shares of the auto parts company’s stock worth $17,606,000 after acquiring an additional 179,243 shares during the period. Y Intercept Hong Kong Ltd raised its position in Allison Transmission by 224.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 74,778 shares of the auto parts company’s stock valued at $6,347,000 after acquiring an additional 51,737 shares in the last quarter. Alps Advisors Inc. purchased a new position in Allison Transmission during the third quarter valued at approximately $14,175,000. Finally, Vest Financial LLC lifted its holdings in Allison Transmission by 26.3% in the third quarter. Vest Financial LLC now owns 51,948 shares of the auto parts company’s stock valued at $4,409,000 after acquiring an additional 10,815 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 is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.