Allison Transmission Holdings Inc (NASDAQ:ALSN)’s share price gapped up before the market opened on Friday after Zacks Investment Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $37.62, but opened at $38.71. Zacks Investment Research now has a $44.00 price target on the stock. Allison Transmission Holdings shares last traded at $38.47, with a volume of 658,432 shares trading hands.
According to Zacks, “Allison Transmission Holdings, Inc. is engaged in the manufacturing of fully-automatic transmissions for medium- and heavy-duty commercial vehicles, medium- and heavy-tactical U.S. military vehicles and hybrid-propulsion systems for transit buses. The Company’s products are used in a variety of applications including on-highway trucks, buses, motorhomes, off-highway vehicles and equipment and military vehicles. Allison Transmission Holdings, Inc. is headquartered in Indianapolis, Indiana. “
Several other equities analysts also recently issued reports on ALSN. Piper Jaffray Companies set a $30.00 price target on shares of Allison Transmission Holdings and gave the company a “sell” rating in a report on Thursday, April 27th. Barclays PLC boosted their price target on shares of Allison Transmission Holdings from $39.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Seaport Global Securities began coverage on shares of Allison Transmission Holdings in a report on Thursday, April 6th. They issued a “neutral” rating for the company. Deutsche Bank AG upped their price objective on shares of Allison Transmission Holdings from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Citigroup Inc raised shares of Allison Transmission Holdings from a “neutral” rating to a “buy” rating in a report on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $37.89.
In other Allison Transmission Holdings news, SVP Randall R. Kirk sold 6,854 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $35.82, for a total value of $245,510.28. Following the sale, the senior vice president now directly owns 67,149 shares in the company, valued at $2,405,277.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Randall R. Kirk sold 7,230 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $38.59, for a total transaction of $279,005.70. Following the completion of the sale, the senior vice president now owns 72,085 shares in the company, valued at $2,781,760.15. The disclosure for this sale can be found here.
Hedge funds have recently bought and sold shares of the company. Janus Capital Management LLC increased its stake in Allison Transmission Holdings by 68.2% in the first quarter. Janus Capital Management LLC now owns 25,900 shares of the auto parts company’s stock valued at $934,000 after buying an additional 10,500 shares during the last quarter. Credit Suisse AG increased its stake in Allison Transmission Holdings by 93.1% in the first quarter. Credit Suisse AG now owns 200,130 shares of the auto parts company’s stock valued at $7,217,000 after buying an additional 96,463 shares during the last quarter. Jane Street Group LLC bought a new stake in Allison Transmission Holdings during the first quarter valued at about $392,000. Paloma Partners Management Co increased its stake in Allison Transmission Holdings by 32.0% in the first quarter. Paloma Partners Management Co now owns 92,343 shares of the auto parts company’s stock valued at $3,330,000 after buying an additional 22,404 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Allison Transmission Holdings by 21.2% in the first quarter. AQR Capital Management LLC now owns 494,432 shares of the auto parts company’s stock valued at $17,829,000 after buying an additional 86,497 shares during the last quarter.
The company has a market cap of $5.68 billion and a PE ratio of 24.84. The stock has a 50 day moving average of $36.80 and a 200-day moving average of $34.94.
Allison Transmission Holdings (NASDAQ:ALSN) last issued its earnings results on Wednesday, April 26th. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.17. The company had revenue of $499 million for the quarter, compared to the consensus estimate of $461.76 million. During the same quarter last year, the business posted $0.63 EPS. Allison Transmission Holdings’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that Allison Transmission Holdings Inc will post $1.80 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Monday, May 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, May 18th.
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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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