Allison Transmission (ALSN) Rating Lowered to Neutral at Bank of America

Allison Transmission (NYSE:ALSN) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $48.00 price target on the auto parts company’s stock, down from their prior price target of $52.00. Bank of America’s price target would indicate a potential upside of 15.25% from the stock’s previous close.

A number of other equities analysts have also recently commented on ALSN. Royal Bank of Canada reaffirmed a “buy” rating on shares of Allison Transmission in a research report on Thursday, November 2nd. Citigroup boosted their target price on shares of Allison Transmission from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Allison Transmission from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Friday, November 3rd. Deutsche Bank set a $37.00 target price on shares of Allison Transmission and gave the company a “sell” rating in a research report on Wednesday, November 1st. Finally, Buckingham Research boosted their target price on shares of Allison Transmission from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.64.

Shares of Allison Transmission (ALSN) traded down $0.13 on Thursday, reaching $41.65. 1,586,692 shares of the company were exchanged, compared to its average volume of 1,201,458. The firm has a market capitalization of $5,904.35, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.51 and a beta of 1.15. Allison Transmission has a fifty-two week low of $32.93 and a fifty-two week high of $45.69. The company has a debt-to-equity ratio of 4.57, a quick ratio of 1.15 and a current ratio of 1.50.

Allison Transmission declared that its Board of Directors has approved a stock buyback program on Wednesday, November 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In related news, VP Eric C. Scroggins sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $39.51, for a total value of $296,325.00. Following the sale, the vice president now directly owns 23,480 shares in the company, valued at $927,694.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David S. Graziosi sold 46,200 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $45.03, for a total value of $2,080,386.00. Following the completion of the sale, the insider now owns 240,323 shares in the company, valued at $10,821,744.69. The disclosure for this sale can be found here. Insiders sold 3,413,129 shares of company stock valued at $150,042,595 in the last ninety days. 7.90% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Group One Trading L.P. bought a new position in shares of Allison Transmission during the 3rd quarter worth approximately $105,000. American International Group Inc. bought a new position in shares of Allison Transmission during the 4th quarter worth approximately $127,000. CIBC Asset Management Inc bought a new position in shares of Allison Transmission during the 4th quarter worth approximately $220,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Allison Transmission by 12.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after buying an additional 607 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Allison Transmission during the 3rd quarter worth approximately $203,000.

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Allison Transmission 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).

Analyst Recommendations for Allison Transmission (NYSE:ALSN)

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