Allison Transmission’s (ALSN) “Buy” Rating Reaffirmed at William Blair
Allison Transmission (NYSE:ALSN)‘s stock had its “buy” rating reaffirmed by research analysts at William Blair in a note issued to investors on Tuesday.
ALSN has been the topic of several other reports. Robert W. Baird reiterated a “buy” rating and issued a $52.00 price target on shares of Allison Transmission in a research note on Wednesday, November 1st. BidaskClub upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Tuesday. Piper Jaffray Companies set a $26.00 price target on shares of Allison Transmission and gave the company a “sell” rating in a research note on Friday, November 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.55.
Shares of Allison Transmission (NYSE ALSN) opened at $42.25 on Tuesday. The company has a debt-to-equity ratio of 4.57, a current ratio of 1.50 and a quick ratio of 1.15. Allison Transmission has a 52 week low of $32.93 and a 52 week high of $45.69. The stock has a market cap of $5,990.00, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14.
Allison Transmission declared that its board has authorized a stock repurchase program on Wednesday, November 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, VP Eric C. Scroggins sold 7,500 shares of Allison Transmission stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $39.51, for a total transaction of $296,325.00. Following the completion of the sale, the vice president now owns 23,480 shares of the company’s stock, valued at approximately $927,694.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David S. Graziosi sold 1,800 shares of Allison Transmission stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $42.04, for a total transaction of $75,672.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,413,129 shares of company stock worth $150,042,595 over the last 90 days. 7.90% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Group One Trading L.P. bought a new stake in shares of Allison Transmission during the 3rd quarter worth about $105,000. American International Group Inc. bought a new stake in shares of Allison Transmission during the 4th quarter worth about $127,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Allison Transmission by 12.8% during 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 during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Allison Transmission during the 3rd quarter worth about $203,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Allison Transmission during the 2nd quarter worth about $208,000.
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About Allison Transmission
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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