Allison Transmission (NYSE:ALSN) Stock Price Target Cut by JPMorgan Chase & Co.

Allison Transmission (NYSE:ALSN) had its target price decreased by research analysts at JPMorgan Chase & Co. from $145.00 to $142.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 30.15% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Freedom Broker started coverage on shares of Allison Transmission in a report on Friday, October 2nd. They issued a “buy” rating and a $144.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Allison Transmission from $137.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday. Citigroup lowered their price objective on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Morgan Stanley boosted their target price on Allison Transmission from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Weiss Ratings raised Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Allison Transmission currently has an average rating of “Moderate Buy” and a consensus price target of $130.14.

Allison Transmission Stock Performance

Shares of NYSE ALSN traded down $1.65 during mid-day trading on Thursday, hitting $109.11. 990,720 shares of the company were exchanged, compared to its average volume of 939,993. The stock has a 50 day simple moving average of $122.12 and a 200-day simple moving average of $120.31. Allison Transmission has a 1-year low of $76.01 and a 1-year high of $137.62. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 2.07. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 0.60 and a beta of 0.98.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Monday, August 3rd. The auto parts company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.25. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. Allison Transmission’s revenue was up 92.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. On average, sell-side analysts forecast that Allison Transmission will post 10.27 EPS for the current fiscal year.

Insider Transactions at Allison Transmission

In related news, CEO David S. Graziosi sold 26,708 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $132.97, for a total transaction of $3,551,362.76. Following the sale, the chief executive officer owned 304,843 shares of the company’s stock, valued at approximately $40,534,973.71. The trade was a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric C. Scroggins sold 1,050 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total transaction of $131,250.00. Following the transaction, the insider owned 16,604 shares in the company, valued at $2,075,500. The trade was a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALSN. BlackRock Inc. acquired a new stake in shares of Allison Transmission in the 2nd quarter worth approximately $448,232,000. First Trust Advisors LP raised its holdings in Allison Transmission by 85.2% during the first quarter. First Trust Advisors LP now owns 2,026,603 shares of the auto parts company’s stock worth $237,234,000 after purchasing an additional 932,201 shares during the last quarter. Wasatch Advisors LP boosted its position in Allison Transmission by 105.7% during the second quarter. Wasatch Advisors LP now owns 1,510,496 shares of the auto parts company’s stock worth $170,293,000 after purchasing an additional 776,169 shares in the last quarter. Stockbridge Partners LLC acquired a new stake in Allison Transmission in the second quarter valued at $169,108,000. Finally, Bank of America Corp DE grew its holdings in Allison Transmission by 12.3% in the first quarter. Bank of America Corp DE now owns 1,100,162 shares of the auto parts company’s stock valued at $128,785,000 after purchasing an additional 120,335 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Company Profile

Allison Transmission Holdings, Inc designs and manufactures fully automatic transmissions and propulsion solutions for commercial and defense vehicles. Its products are used in a broad range of applications, including refuse and construction trucks, buses, distribution vehicles, emergency vehicles, motorhomes, and off-highway equipment.

The company’s portfolio includes conventional automatic transmissions, hybrid-electric propulsion systems, and electric axles and other solutions intended to support vehicle electrification.