Citigroup Forecasts Strong Price Appreciation for Allison Transmission (NYSE:ALSN) Stock

Allison Transmission (NYSE:ALSN) had its target price upped by equities researchers at Citigroup from $115.00 to $125.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price target would suggest a potential upside of 5.83% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Oppenheimer increased their target price on Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Bank of America increased their target price on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Finally, Robert W. Baird raised their price objective on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.25.

Allison Transmission Stock Performance

ALSN opened at $118.11 on Wednesday. The stock’s 50 day simple moving average is $101.95 and its 200-day simple moving average is $87.86. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 1.48. The stock has a market cap of $10.23 billion, a PE ratio of 14.18, a P/E/G ratio of 2.06 and a beta of 0.98. Allison Transmission has a 1 year low of $53.00 and a 1 year high of $121.36.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.26. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. The firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $790.08 million. During the same quarter in the previous year, the firm posted $1.76 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Allison Transmission will post 8.21 EPS for the current year.

Insider Activity

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.73, for a total value of $235,460.00. Following the transaction, the senior vice president now directly owns 8,420 shares of the company’s stock, valued at approximately $991,286.60. This trade represents a 19.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas Eifert sold 1,741 shares of Allison Transmission stock in a transaction on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the sale, the vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $960,100. This trade represents a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,741 shares of company stock valued at $781,520. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Allison Transmission

A number of hedge funds and other institutional investors have recently made changes to their positions in ALSN. Versant Capital Management Inc increased its position in shares of Allison Transmission by 1,200.0% in the 2nd quarter. Versant Capital Management Inc now owns 364 shares of the auto parts company’s stock valued at $28,000 after buying an additional 336 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Allison Transmission in the second quarter worth about $33,000. Quarry LP raised its position in shares of Allison Transmission by 46.7% during the third quarter. Quarry LP now owns 358 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Allison Transmission by 139.8% during the 2nd quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock valued at $66,000 after purchasing an additional 506 shares in the last quarter. Finally, Quent Capital LLC grew its position in shares of Allison Transmission by 24.0% in the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock valued at $68,000 after purchasing an additional 172 shares during the period. 96.90% of the stock is 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.