Freedom Broker Issues Positive Forecast for Allison Transmission (NYSE:ALSN) Stock Price

Allison Transmission (NYSE:ALSN) had its price target boosted by Freedom Broker from $144.00 to $147.00 in a research note released on Friday,Benzinga reports. Freedom Broker currently has a buy rating on the auto parts company’s stock.

A number of other equities research analysts have also weighed in on ALSN. Wells Fargo & Company reduced their price objective on shares of Allison Transmission from $137.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, October 8th. Zacks Research raised shares of Allison Transmission from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. lowered their target price on shares of Allison Transmission from $145.00 to $142.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Citigroup increased their target price on Allison Transmission from $135.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley raised their price target on Allison Transmission from $132.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.62.

Allison Transmission Stock Up 0.3%

Shares of Allison Transmission stock traded up $0.29 on Friday, reaching $116.74. 1,058,862 shares of the company were exchanged, compared to its average volume of 662,196. Allison Transmission has a 1-year low of $78.77 and a 1-year high of $137.62. The company has a market cap of $9.64 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 0.60 and a beta of 1.06. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.81 and a quick ratio of 1.17. The stock’s 50 day moving average price is $116.41 and its 200-day moving average price is $118.48.

Allison Transmission (NYSE:ALSN) last released its earnings results on Monday, November 2nd. The auto parts company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.58. Allison Transmission had a net margin of 11.12% and a return on equity of 43.23%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 121.4% compared to the same quarter last year. As a group, equities analysts forecast that Allison Transmission will post 10.68 EPS for the current year.

Allison Transmission Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 21st. Allison Transmission’s dividend payout ratio (DPR) is currently 16.67%.

Insiders Place Their Bets

In other Allison Transmission news, insider Eric C. Scroggins sold 1,050 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total transaction of $131,250.00. Following the transaction, the insider owned 16,604 shares of the company’s stock, valued at approximately $2,075,500. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Graziosi sold 26,708 shares of Allison Transmission stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $132.97, for a total value of $3,551,362.76. Following the sale, the chief executive officer owned 304,843 shares in the company, valued at $40,534,973.71. This trade represents a 8.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Institutional Trading of Allison Transmission

A number of large investors have recently made changes to their positions in ALSN. Russell Investments Group Ltd. increased its position in Allison Transmission by 9.1% during the third quarter. Russell Investments Group Ltd. now owns 37,494 shares of the auto parts company’s stock worth $4,246,000 after buying an additional 3,140 shares during the period. Eurizon Capital SGR S.p.A. boosted its holdings in shares of Allison Transmission by 20.8% in the third quarter. Eurizon Capital SGR S.p.A. now owns 1,750 shares of the auto parts company’s stock valued at $198,000 after acquiring an additional 301 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Allison Transmission by 33.5% in the third quarter. Fifth Third Bancorp now owns 49,126 shares of the auto parts company’s stock valued at $5,564,000 after acquiring an additional 12,326 shares during the period. New Mexico Educational Retirement Board acquired a new stake in shares of Allison Transmission in the third quarter valued at approximately $1,959,000. Finally, Maryland State Retirement & Pension System grew its position in shares of Allison Transmission by 36.3% during the third quarter. Maryland State Retirement & Pension System now owns 5,504 shares of the auto parts company’s stock worth $623,000 after acquiring an additional 1,466 shares during the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Allison Transmission Company Profile

Allison Transmission, Inc designs and manufactures propulsion solutions for commercial, defense and off-highway vehicles. The company is best known for its fully automatic transmissions, which are used in applications including refuse collection, construction, distribution, emergency services, public transportation and mining.

Its product portfolio also includes electric and hybrid-electric propulsion systems, including the eGen Power electric axle and other electrification technologies.