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

Allison Transmission (NYSE:ALSN) had its price objective cut by investment analysts at Citigroup from $115.00 to $108.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price target suggests a potential upside of 11.03% from the company’s current price.

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

Allison Transmission Trading Up 1.7 %

Shares of NYSE:ALSN opened at $97.27 on Monday. The business’s 50 day moving average price is $104.23 and its 200-day moving average price is $106.59. Allison Transmission has a 1 year low of $71.49 and a 1 year high of $122.53. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 11.71 and a beta of 1.02. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. On average, equities research analysts forecast that Allison Transmission will post 9.06 earnings per share for the current fiscal year.

Allison Transmission announced that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the auto parts company to purchase up to 57.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the transaction, the vice president now directly owns 14,138 shares in the company, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Allison Transmission

Large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its position in shares of Allison Transmission by 363.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 500 shares of the auto parts company’s stock worth $48,000 after purchasing an additional 392 shares during the last quarter. Wellington Management Group LLP boosted its stake in Allison Transmission by 11.3% during the fourth quarter. Wellington Management Group LLP now owns 18,456 shares of the auto parts company’s stock worth $1,994,000 after buying an additional 1,871 shares during the period. 111 Capital acquired a new stake in shares of Allison Transmission during the fourth quarter valued at about $599,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Allison Transmission by 12.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,101 shares of the auto parts company’s stock valued at $1,848,000 after acquiring an additional 1,831 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Allison Transmission in the 4th quarter worth approximately $13,550,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

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.