Stock Repurchase Program Declared by Allison Transmission Holdings (ALSN) Board of Directors
Allison Transmission Holdings (NYSE:ALSN) declared that its board has authorized a stock buyback program, which authorizes the company to buyback $100.00 million in outstanding shares on Monday, February 24th, EventVestor reports. This buyback authorization authorizes the auto parts company to reacquire up to 1.9% of its shares through a private placement purchase. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have weighed in on ALSN shares. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Allison Transmission Holdings in a research report on Friday, July 7th. BidaskClub raised Allison Transmission Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “hold” rating and set a $41.00 target price (up from $40.00) on shares of Allison Transmission Holdings in a report on Friday, July 28th. Finally, Deutsche Bank AG boosted their target price on Allison Transmission Holdings from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $40.56.
Allison Transmission Holdings (NYSE ALSN) traded down 0.51% on Friday, hitting $36.85. The company had a trading volume of 216,089 shares. The stock has a market capitalization of $5.48 billion, a PE ratio of 20.93 and a beta of 1.18. The stock has a 50 day moving average of $37.71 and a 200-day moving average of $37.00. Allison Transmission Holdings has a one year low of $26.74 and a one year high of $40.25.
Allison Transmission Holdings (NYSE:ALSN) last issued its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.16. The business had revenue of $580 million for the quarter, compared to analyst estimates of $515.03 million. Allison Transmission Holdings had a return on equity of 31.27% and a net margin of 14.32%. Allison Transmission Holdings’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. Equities analysts anticipate that Allison Transmission Holdings will post $2.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 21st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.60 dividend on an annualized basis and a yield of 1.62%. Allison Transmission Holdings’s dividend payout ratio (DPR) is currently 33.71%.
In other Allison Transmission Holdings news, CFO David S. Graziosi sold 50,000 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 244,123 shares of the company’s stock, valued at $9,323,057.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David S. Graziosi sold 10,736 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $39.91, for a total value of $428,473.76. Following the completion of the sale, the chief financial officer now directly owns 204,859 shares of the company’s stock, valued at $8,175,922.69. The disclosure for this sale can be found here. Insiders have sold 132,584 shares of company stock worth $5,126,514 over the last quarter. 7.90% of the stock is currently owned by corporate insiders.
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).
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