Allison Transmission (ALSN) Downgraded by Zacks Investment Research to Hold

Allison Transmission (NYSE:ALSN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday.

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. “

Other equities research analysts have also issued reports about the company. Deutsche Bank set a $37.00 price target on Allison Transmission and gave the stock a “sell” rating in a research note on Wednesday, November 1st. Bank of America set a $52.00 price target on Allison Transmission and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Robert W. Baird reissued a “buy” rating and set a $52.00 price target on shares of Allison Transmission in a research note on Wednesday, November 1st. Stifel Nicolaus raised their price target on Allison Transmission from $41.00 to $45.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Allison Transmission in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Allison Transmission has an average rating of “Hold” and an average target price of $43.64.

Shares of Allison Transmission (NYSE ALSN) traded up $0.02 during mid-day trading on Monday, hitting $41.67. The company had a trading volume of 2,457,197 shares, compared to its average volume of 1,336,713. Allison Transmission has a 52-week low of $32.93 and a 52-week high of $45.69. The company has a debt-to-equity ratio of 4.57, a current ratio of 1.50 and a quick ratio of 1.15. The company has a market cap of $5,904.34, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.51 and a beta of 1.15.

Allison Transmission announced that its Board of Directors has authorized a share buyback plan on Wednesday, November 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Eric C. Scroggins sold 7,500 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 23,480 shares of the company’s stock, valued at approximately $927,694.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Eric C. Scroggins sold 4,330 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $44.00, for a total value of $190,520.00. Following the completion of the transaction, the vice president now directly owns 20,310 shares of the company’s stock, valued at $893,640. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,413,129 shares of company stock valued at $150,042,595. 7.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALSN. Ameriprise Financial Inc. raised its position in shares of Allison Transmission by 751.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 56,578 shares of the auto parts company’s stock worth $2,121,000 after acquiring an additional 49,930 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Allison Transmission by 11.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,403,681 shares of the auto parts company’s stock worth $52,650,000 after acquiring an additional 141,741 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Allison Transmission by 20.8% in the 2nd quarter. Voya Investment Management LLC now owns 51,496 shares of the auto parts company’s stock worth $1,932,000 after acquiring an additional 8,854 shares in the last quarter. Stifel Financial Corp raised its position in shares of Allison Transmission by 12.7% in the 2nd quarter. Stifel Financial Corp now owns 27,312 shares of the auto parts company’s stock worth $1,038,000 after acquiring an additional 3,084 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Allison Transmission by 50.6% in the 2nd quarter. Royal Bank of Canada now owns 22,226 shares of the auto parts company’s stock worth $834,000 after acquiring an additional 7,466 shares in the last quarter.

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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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