JPMorgan Chase & Co. Boosts Allison Transmission (NYSE:ALSN) Price Target to $78.00

Allison Transmission (NYSE:ALSN) had its target price upped by JPMorgan Chase & Co. from $70.00 to $78.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.56% from the company’s previous close.

Several other equities research analysts have also commented on ALSN. The Goldman Sachs Group upped their price objective on Allison Transmission from $48.00 to $55.00 and gave the stock a “sell” rating in a research note on Thursday, February 15th. StockNews.com upgraded Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Morgan Stanley began coverage on Allison Transmission in a research report on Monday, January 8th. They set an “equal weight” rating and a $62.00 price objective on the stock. Oppenheimer increased their target price on shares of Allison Transmission from $67.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Robert W. Baird lifted their price target on shares of Allison Transmission from $63.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.88.

Allison Transmission Trading Down 1.2 %

Shares of NYSE:ALSN opened at $80.88 on Monday. The stock’s 50-day simple moving average is $74.87 and its two-hundred day simple moving average is $62.98. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.51 and a beta of 1.03. Allison Transmission has a 52-week low of $44.68 and a 52-week high of $83.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.94 and a current ratio of 2.49.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings data on Tuesday, February 13th. The auto parts company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. Allison Transmission had a net margin of 22.17% and a return on equity of 60.35%. The company had revenue of $775.00 million for the quarter, compared to the consensus estimate of $744.00 million. During the same quarter last year, the firm posted $1.52 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Allison Transmission will post 7.64 EPS for the current year.

Insiders Place Their Bets

In other news, VP Ryan A. Milburn sold 2,598 shares of Allison Transmission stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $75.40, for a total transaction of $195,889.20. Following the sale, the vice president now owns 14,456 shares in the company, valued at $1,089,982.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO David S. Graziosi sold 76,318 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total transaction of $5,385,761.26. Following the completion of the transaction, the chief executive officer now directly owns 125,479 shares of the company’s stock, valued at $8,855,053.03. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Ryan A. Milburn sold 2,598 shares of Allison Transmission stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $75.40, for a total value of $195,889.20. Following the completion of the sale, the vice president now directly owns 14,456 shares in the company, valued at approximately $1,089,982.40. The disclosure for this sale can be found here. Insiders sold 87,843 shares of company stock worth $6,244,562 in the last three months. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Allison Transmission during the fourth quarter valued at $49,812,000. Balyasny Asset Management LLC purchased a new stake in shares of Allison Transmission during the 3rd quarter valued at about $16,514,000. AQR Capital Management LLC lifted its holdings in shares of Allison Transmission by 18.9% in the 4th quarter. AQR Capital Management LLC now owns 2,244,170 shares of the auto parts company’s stock valued at $92,639,000 after acquiring an additional 357,322 shares during the last quarter. Two Sigma Investments LP purchased a new position in Allison Transmission in the fourth quarter worth about $13,939,000. Finally, Federated Hermes Inc. raised its position in Allison Transmission by 62.5% during the third quarter. Federated Hermes Inc. now owns 799,312 shares of the auto parts company’s stock valued at $47,207,000 after purchasing an additional 307,322 shares during the period. 96.90% of the stock is currently owned by 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.