BidaskClub Upgrades Allison Transmission Holdings, Inc. (ALSN) to “Buy”
Allison Transmission Holdings, Inc. (NYSE:ALSN) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
Other analysts have also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Allison Transmission Holdings in a research report on Friday, July 7th. ValuEngine raised Allison Transmission Holdings from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “hold” rating and set a $41.00 price objective (up previously from $40.00) on shares of Allison Transmission Holdings in a research report on Friday, July 28th. Deutsche Bank AG cut their price objective on Allison Transmission Holdings from $44.00 to $43.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co cut Allison Transmission Holdings from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $39.00 in a research report on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.63.
Shares of Allison Transmission Holdings (ALSN) opened at 37.08 on Tuesday. The firm’s 50-day moving average price is $35.32 and its 200-day moving average price is $36.77. Allison Transmission Holdings has a 52 week low of $27.03 and a 52 week high of $40.25. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 21.06 and a beta of 1.20.
Allison Transmission Holdings (NYSE:ALSN) last announced its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.16. Allison Transmission Holdings had a return on equity of 31.27% and a net margin of 14.32%. The company had revenue of $580.00 million during the quarter, compared to analysts’ expectations of $515.03 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts expect that Allison Transmission Holdings will post $2.12 EPS for the current fiscal year.
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In related news, SVP Randall R. Kirk sold 7,541 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $34.27, for a total transaction of $258,430.07. Following the transaction, the senior vice president now directly owns 84,494 shares in the company, valued at $2,895,609.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David S. Graziosi sold 10,736 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $39.91, for a total value of $428,473.76. Following the transaction, the chief financial officer now owns 204,859 shares in the company, valued at $8,175,922.69. The disclosure for this sale can be found here. Insiders have sold 57,541 shares of company stock worth $2,148,703 over the last 90 days. Corporate insiders own 7.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Burgundy Asset Management Ltd. increased its stake in Allison Transmission Holdings by 1.3% during the second quarter. Burgundy Asset Management Ltd. now owns 4,796,019 shares of the auto parts company’s stock valued at $179,899,000 after acquiring an additional 61,875 shares during the period. USA Financial Portformulas Corp increased its stake in Allison Transmission Holdings by 1.7% during the second quarter. USA Financial Portformulas Corp now owns 20,373 shares of the auto parts company’s stock valued at $764,000 after acquiring an additional 345 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Allison Transmission Holdings during the second quarter valued at about $821,000. Public Employees Retirement System of Ohio increased its stake in Allison Transmission Holdings by 107.9% during the second quarter. Public Employees Retirement System of Ohio now owns 150,314 shares of the auto parts company’s stock valued at $5,638,000 after acquiring an additional 77,996 shares during the period. Finally, Koch Industries Inc. bought a new position in Allison Transmission Holdings during the second quarter valued at about $506,000.
Allison Transmission Holdings Company Profile
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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