Citigroup Increases Allison Transmission (NYSE:ALSN) Price Target to $109.00

Allison Transmission (NYSE:ALSN) had its price objective hoisted by stock analysts at Citigroup from $97.00 to $109.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. Citigroup’s target price would indicate a potential upside of 9.77% from the company’s previous close.

Several other research analysts have also issued reports on ALSN. Raymond James began coverage on Allison Transmission in a research report on Friday, June 28th. They set an “outperform” rating and a $85.00 target price for the company. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 2nd. Robert W. Baird lifted their price target on shares of Allison Transmission from $87.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group boosted their price target on Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.71.

Allison Transmission Price Performance

ALSN stock traded up $1.48 during mid-day trading on Wednesday, hitting $99.30. The company had a trading volume of 551,380 shares, compared to its average volume of 627,028. The company has a 50-day moving average price of $89.51 and a 200 day moving average price of $81.88. Allison Transmission has a 12-month low of $50.13 and a 12-month high of $100.73. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.64 and a beta of 0.99. The company has a quick ratio of 2.19, a current ratio of 2.78 and a debt-to-equity ratio of 1.62.

Allison Transmission (NYSE:ALSN) last released its earnings results on Thursday, July 25th. The auto parts company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.09. The firm had revenue of $816.00 million for the quarter, compared to the consensus estimate of $799.44 million. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.92 EPS. On average, research analysts anticipate that Allison Transmission will post 7.85 earnings per share for the current year.

Insiders Place Their Bets

In other Allison Transmission news, VP Thomas Eifert sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $95.00, for a total value of $190,000.00. Following the completion of the transaction, the vice president now directly owns 9,601 shares in the company, valued at approximately $912,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,741 shares of company stock worth $546,060 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Allison Transmission

A number of institutional investors have recently made changes to their positions in the business. Boyar Asset Management Inc. purchased a new position in shares of Allison Transmission in the 4th quarter valued at approximately $286,000. Paragon Associates & Paragon Associates II Joint Venture purchased a new position in Allison Transmission in the 4th quarter worth $291,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Allison Transmission during the 4th quarter worth about $3,140,000. Nomura Holdings Inc. grew its stake in Allison Transmission by 7.6% during the 4th quarter. Nomura Holdings Inc. now owns 24,000 shares of the auto parts company’s stock valued at $1,396,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Allison Transmission in the first quarter worth about $247,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

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.