Citigroup Lowers Allison Transmission (NYSE:ALSN) Price Target to $108.00

Allison Transmission (NYSE:ALSN) had its target price cut by Citigroup from $115.00 to $108.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

ALSN has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Morgan Stanley boosted their price target on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group increased their price objective on shares of Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. Finally, StockNews.com cut Allison Transmission from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.13.

Allison Transmission Price Performance

Shares of NYSE:ALSN opened at $95.69 on Monday. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The firm’s 50 day moving average is $104.69 and its two-hundred day moving average is $106.52. The firm has a market capitalization of $8.18 billion, a P/E ratio of 11.51 and a beta of 1.02. 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 earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. Analysts anticipate that Allison Transmission will post 9.06 earnings per share for the current year.

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

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.13%. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction of $437,325.20. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Transce3nd LLC acquired a new position in Allison Transmission in the 4th quarter worth approximately $25,000. SRH Advisors LLC purchased a new stake in shares of Allison Transmission in the fourth quarter valued at $26,000. World Investment Advisors LLC purchased a new stake in shares of Allison Transmission in the third quarter valued at $29,000. Kestra Investment Management LLC acquired a new stake in shares of Allison Transmission in the fourth quarter worth $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Allison Transmission during the fourth quarter valued at $31,000. 96.90% of the stock is currently owned by institutional investors and hedge funds.

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.