Piper Jaffray Companies set a $26.00 price objective on Allison Transmission Holdings, Inc. (NYSE:ALSN) in a report published on Friday morning. The firm currently has a sell rating on the auto parts company’s stock.
A number of other research analysts have also recently commented on the stock. Deutsche Bank AG cut shares of Allison Transmission Holdings from a hold rating to a sell rating and reduced their price target for the company from $43.00 to $33.00 in a research report on Tuesday, September 5th. ValuEngine upgraded shares of Allison Transmission Holdings from a hold rating to a buy rating in a research report on Friday, September 1st. Longbow Research cut shares of Allison Transmission Holdings from a buy rating to a neutral rating in a report on Thursday, October 12th. Buckingham Research started coverage on shares of Allison Transmission Holdings in a report on Tuesday, September 5th. They issued a neutral rating and a $36.00 target price on the stock. Finally, BidaskClub cut shares of Allison Transmission Holdings from a hold rating to a sell rating in a report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $44.18.
Shares of Allison Transmission Holdings (ALSN) traded down $2.41 during midday trading on Friday, reaching $38.95. 4,579,426 shares of the company’s stock were exchanged, compared to its average volume of 1,544,639. Allison Transmission Holdings has a twelve month low of $32.01 and a twelve month high of $45.69. The company has a debt-to-equity ratio of 4.57, a current ratio of 1.50 and a quick ratio of 1.15. The company has a market capitalization of $5,890.00, a PE ratio of 18.63, a P/E/G ratio of 1.69 and a beta of 1.24.
Allison Transmission Holdings (NYSE:ALSN) last issued its quarterly earnings results on Monday, October 30th. The auto parts company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.27. Allison Transmission Holdings had a net margin of 16.34% and a return on equity of 45.65%. The business had revenue of $595.00 million for the quarter, compared to analysts’ expectations of $533.53 million. During the same period last year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 37.1% on a year-over-year basis. sell-side analysts forecast that Allison Transmission Holdings will post 2.49 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 17th. Allison Transmission Holdings’s dividend payout ratio is currently 26.43%.
Allison Transmission Holdings declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other news, SVP Randall R. Kirk sold 7,541 shares of Allison Transmission Holdings stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $34.27, for a total value of $258,430.07. Following the completion of the transaction, the senior vice president now owns 84,494 shares of the company’s stock, valued at approximately $2,895,609.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David S. Graziosi sold 39,264 shares of Allison Transmission Holdings stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.23, for a total value of $1,461,798.72. Following the completion of the transaction, the chief financial officer now directly owns 233,387 shares of the company’s stock, valued at approximately $8,688,998.01. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ALSN. Group One Trading L.P. purchased a new position in shares of Allison Transmission Holdings in the 3rd quarter worth about $105,000. Tower Research Capital LLC TRC increased its holdings in Allison Transmission Holdings by 7,314.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock worth $195,000 after buying an additional 5,120 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Allison Transmission Holdings by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after buying an additional 607 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Allison Transmission Holdings in the 3rd quarter worth about $203,000. Finally, Menta Capital LLC bought a new stake in Allison Transmission Holdings in the 2nd quarter worth about $206,000.
Allison Transmission Holdings Company Profile
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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