Citigroup Cuts Allison Transmission (NYSE:ALSN) Price Target to $120.00

Allison Transmission (NYSE:ALSN) had its price target decreased by Citigroup from $130.00 to $120.00 in a research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the auto parts company’s stock.

A number of other research analysts have also weighed in on the stock. Morgan Stanley boosted their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Bank of America boosted their price objective on 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. increased their target price on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. The Goldman Sachs Group lifted their price target on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 12th. Finally, StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 26th. Two equities 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.38.

Allison Transmission Stock Performance

Shares of NYSE ALSN opened at $117.47 on Tuesday. The business’s 50-day simple moving average is $114.01 and its 200-day simple moving average is $98.67. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.25 and a current ratio of 2.83. Allison Transmission has a 52 week low of $55.81 and a 52 week high of $122.53. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.73 and a beta of 1.00.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.01 by $0.26. Allison Transmission had a return on equity of 51.13% and a net margin of 22.66%. The company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $790.08 million. During the same quarter last year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts expect that Allison Transmission will post 8.26 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, November 18th. Allison Transmission’s dividend payout ratio is presently 12.18%.

Insider Buying and Selling

In related news, SVP John Coll sold 2,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the transaction, the senior vice president now owns 6,420 shares of the company’s stock, valued at $695,928. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Graziosi sold 11,590 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $119.44, for a total transaction of $1,384,309.60. Following the transaction, the chief executive officer now owns 168,833 shares of the company’s stock, valued at approximately $20,165,413.52. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock valued at $2,683,537 over the last ninety days. 1.10% of the stock is owned by company insiders.

Institutional Trading of Allison Transmission

Large investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA boosted its stake in shares of Allison Transmission by 4.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company’s stock valued at $9,333,000 after purchasing an additional 4,261 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in Allison Transmission in the third quarter valued at about $947,000. Franklin Resources Inc. grew its stake in Allison Transmission by 46.8% during the third quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock worth $24,955,000 after buying an additional 79,745 shares during the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of Allison Transmission during the third quarter worth approximately $5,932,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Allison Transmission by 133.0% in the third quarter. Oppenheimer & Co. Inc. now owns 13,917 shares of the auto parts company’s stock valued at $1,337,000 after acquiring an additional 7,944 shares during the last quarter. 96.90% of the stock is currently 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.