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.
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).
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