Bank of America Forecasts Strong Price Appreciation for Allison Transmission (NYSE:ALSN) Stock

Allison Transmission (NYSE:ALSN) had its price target upped by analysts at Bank of America from $67.00 to $77.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “underperform” rating on the auto parts company’s stock. Bank of America‘s price objective suggests a potential downside of 27.95% from the company’s previous close.

A number of other research firms have also recently commented on ALSN. Robert W. Baird boosted their price target on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday. Oppenheimer increased their target price on Allison Transmission from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Allison Transmission from $80.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. StockNews.com upgraded Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Citigroup boosted their target price on Allison Transmission from $97.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $91.00.

Allison Transmission Trading Down 1.1 %

Allison Transmission stock opened at $106.88 on Wednesday. The stock has a market cap of $9.35 billion, a P/E ratio of 14.27, a PEG ratio of 1.78 and a beta of 0.99. Allison Transmission has a fifty-two week low of $50.13 and a fifty-two week high of $109.30. The firm’s fifty day moving average price is $94.57 and its 200-day moving average price is $84.10. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.19 and a current ratio of 2.78.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.26. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $790.08 million. During the same quarter last year, the firm posted $1.76 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Allison Transmission will post 7.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $90.98, for a total transaction of $181,960.00. Following the completion of the sale, the senior vice president now owns 12,420 shares of the company’s stock, valued at $1,129,971.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $90.98, for a total transaction of $181,960.00. Following the transaction, the senior vice president now owns 12,420 shares in the company, valued at $1,129,971.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas Eifert sold 1,741 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the completion of the sale, the vice president now owns 9,601 shares of the company’s stock, valued at approximately $960,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,741 shares of company stock valued at $546,060 over the last three months. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in shares of Allison Transmission by 1,200.0% during the 2nd quarter. Versant Capital Management Inc now owns 364 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 336 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in Allison Transmission during the 2nd quarter valued at approximately $33,000. Fifth Third Bancorp grew its holdings in shares of Allison Transmission by 139.8% during the 2nd quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock worth $66,000 after acquiring an additional 506 shares during the period. Quent Capital LLC raised its position in shares of Allison Transmission by 24.0% in the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock worth $68,000 after acquiring an additional 172 shares in the last quarter. Finally, Covestor Ltd grew its stake in Allison Transmission by 307.2% in the first quarter. Covestor Ltd now owns 965 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 728 shares during the period. 96.90% 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 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.