Raymond James Has Lowered Expectations for Allison Transmission (NYSE:ALSN) Stock Price

Allison Transmission (NYSE:ALSN) had its price objective cut by stock analysts at Raymond James from $115.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the auto parts company’s stock. Raymond James’ price target points to a potential upside of 24.77% from the stock’s current price.

Several other research firms have also recently issued reports on ALSN. JPMorgan Chase & Co. lowered their target price on shares of Allison Transmission from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday. Citigroup decreased their target price on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. StockNews.com upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.13.

Allison Transmission Price Performance

Shares of NYSE ALSN traded down $0.66 during mid-day trading on Monday, reaching $88.16. 215,996 shares of the company were exchanged, compared to its average volume of 756,169. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $7.51 billion, a PE ratio of 10.61 and a beta of 0.95. The company’s 50 day moving average price is $98.58 and its 200 day moving average price is $106.32. Allison Transmission has a 52 week low of $71.49 and a 52 week high of $122.53.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. Sell-side analysts forecast that Allison Transmission will post 9.06 earnings per share for the current fiscal year.

Allison Transmission declared that its board has authorized a stock buyback plan on Thursday, February 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Allison Transmission

In related news, VP Ryan A. Milburn sold 4,546 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the sale, the vice president now owns 14,138 shares in the company, valued at approximately $1,360,075.60. The trade was a 24.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Coll sold 1,788 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the transaction, the senior vice president now owns 15,388 shares in the company, valued at approximately $1,466,938.04. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Allison Transmission

A number of hedge funds have recently made changes to their positions in ALSN. DGS Capital Management LLC boosted its holdings in shares of Allison Transmission by 2.5% in the 4th quarter. DGS Capital Management LLC now owns 3,424 shares of the auto parts company’s stock valued at $370,000 after buying an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Allison Transmission by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,370 shares of the auto parts company’s stock worth $1,661,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Allison Transmission by 0.4% during the 4th quarter. Arizona State Retirement System now owns 25,289 shares of the auto parts company’s stock valued at $2,733,000 after purchasing an additional 100 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Allison Transmission by 1.0% in the 4th quarter. Vident Advisory LLC now owns 10,182 shares of the auto parts company’s stock worth $1,100,000 after purchasing an additional 102 shares in the last quarter. Finally, Amalgamated Bank increased its position in Allison Transmission by 1.6% during the 4th quarter. Amalgamated Bank now owns 6,381 shares of the auto parts company’s stock valued at $690,000 after buying an additional 103 shares in the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Allison Transmission Company Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.