Bank of America upgraded shares of Allison Transmission (NYSE:ALSN) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Briefing.com Automated Import reports. Bank of America currently has $55.00 price target on the auto parts company’s stock.

ALSN has been the topic of several other research reports. Morgan Stanley set a $47.00 price target on shares of Allison Transmission and gave the stock a hold rating in a research report on Friday, November 1st. Royal Bank of Canada reduced their price target on shares of Allison Transmission to $46.00 and set a sector perform rating on the stock in a research report on Friday, November 1st. Finally, Zacks Investment Research upgraded shares of Allison Transmission from a sell rating to a hold rating and set a $46.00 price target on the stock in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $47.25.

Shares of ALSN traded down $0.78 during mid-day trading on Thursday, hitting $45.64. 37,007 shares of the company’s stock were exchanged, compared to its average volume of 1,070,210. Allison Transmission has a 52 week low of $40.35 and a 52 week high of $52.67. The stock’s 50-day simple moving average is $45.23 and its 200-day simple moving average is $45.04. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.38 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 1.57 and a debt-to-equity ratio of 3.38.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Wednesday, October 30th. The auto parts company reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The company had revenue of $669.00 million for the quarter, compared to analysts’ expectations of $665.63 million. Allison Transmission had a net margin of 23.61% and a return on equity of 91.48%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.27 earnings per share. Analysts forecast that Allison Transmission will post 4.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a $0.15 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.31%. Allison Transmission’s dividend payout ratio is currently 12.55%.

Several hedge funds have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC raised its stake in shares of Allison Transmission by 4.1% during the third quarter. Cetera Advisor Networks LLC now owns 6,186 shares of the auto parts company’s stock valued at $291,000 after acquiring an additional 244 shares during the last quarter. Boston Advisors LLC bought a new position in Allison Transmission during the third quarter worth $478,000. Carillon Tower Advisers Inc. raised its stake in Allison Transmission by 69.6% during the third quarter. Carillon Tower Advisers Inc. now owns 160,175 shares of the auto parts company’s stock worth $7,536,000 after buying an additional 65,750 shares during the last quarter. First Trust Advisors LP raised its stake in Allison Transmission by 12.7% during the third quarter. First Trust Advisors LP now owns 183,781 shares of the auto parts company’s stock worth $8,647,000 after buying an additional 20,662 shares during the last quarter. Finally, Keybank National Association OH raised its stake in Allison Transmission by 12.6% during the third quarter. Keybank National Association OH now owns 4,952 shares of the auto parts company’s stock worth $233,000 after buying an additional 555 shares during the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 12 transmission product lines for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.

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Analyst Recommendations for Allison Transmission (NYSE:ALSN)

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