Allison Transmission Holdings (NYSE:ALSN) declared that its Board of Directors has approved a stock repurchase plan, which authorizes the company to buyback $500.00 million in outstanding shares on Thursday, October 30th, EventVestor reports. This buyback authorization authorizes the auto parts company to reacquire up to 8.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Several equities research analysts have recently weighed in on ALSN shares. BidaskClub cut Allison Transmission Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and issued a $41.00 price objective (up from $40.00) on shares of Allison Transmission Holdings in a research report on Friday, July 28th. Piper Jaffray Companies reissued a “sell” rating and issued a $31.00 price objective on shares of Allison Transmission Holdings in a research report on Wednesday, July 12th. Royal Bank Of Canada increased their price objective on Allison Transmission Holdings from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird raised Allison Transmission Holdings from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $51.00 in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.56.

Shares of Allison Transmission Holdings (NYSE ALSN) traded down 0.51% on Friday, reaching $36.85. The company had a trading volume of 216,089 shares. The company’s 50-day moving average price is $37.71 and its 200-day moving average price is $37.00. Allison Transmission Holdings has a 52-week low of $26.74 and a 52-week high of $40.25. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 20.93 and a beta of 1.18.

Allison Transmission Holdings (NYSE:ALSN) last issued its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.16. Allison Transmission Holdings had a return on equity of 31.27% and a net margin of 14.32%. The firm had revenue of $580 million for the quarter, compared to analyst estimates of $515.03 million. During the same period in the prior year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts predict that Allison Transmission Holdings will post $2.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, August 17th. Allison Transmission Holdings’s dividend payout ratio is 33.71%.

In other Allison Transmission Holdings news, CFO David S. Graziosi sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $38.19, for a total value of $1,909,500.00. Following the transaction, the chief financial officer now directly owns 244,123 shares of the company’s stock, valued at approximately $9,323,057.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David S. Graziosi sold 10,736 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.91, for a total value of $428,473.76. Following the completion of the transaction, the chief financial officer now directly owns 204,859 shares in the company, valued at $8,175,922.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,584 shares of company stock worth $5,126,514. Insiders own 7.90% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Allison Transmission Holdings (ALSN) Board of Directors Approves Stock Buyback Program” was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/08/11/allison-transmission-holdings-alsn-board-of-directors-approves-stock-buyback-program.html.

About Allison Transmission Holdings

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 MarketBeat.com's FREE daily email newsletter.