Allison Transmission (ALSN) Rating Increased to Buy at Zacks Investment Research

Allison Transmission (NYSE:ALSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $47.00 price objective on the auto parts company’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.63% from the company’s previous close.

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 analysts also recently issued reports about the company. Deutsche Bank set a $37.00 target price on Allison Transmission and gave the company a “sell” rating in a research note on Wednesday, November 1st. Bank of America set a $52.00 target price on Allison Transmission and gave the company a “buy” rating in a research note on Tuesday, November 14th. Robert W. Baird restated a “buy” rating and set a $52.00 target price on shares of Allison Transmission in a research note on Wednesday, November 1st. Stifel Nicolaus raised their target price on Allison Transmission from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada restated a “buy” rating on shares of Allison Transmission in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.55.

Shares of Allison Transmission (NYSE ALSN) traded up $0.06 during trading on Tuesday, hitting $41.73. The stock had a trading volume of 1,076,073 shares, compared to its average volume of 1,321,766. The company has a quick ratio of 1.15, a current ratio of 1.50 and a debt-to-equity ratio of 4.57. The firm has a market capitalization of $5,904.34, a P/E ratio of 18.50, a PEG ratio of 1.51 and a beta of 1.15. Allison Transmission has a 12 month low of $32.93 and a 12 month high of $45.69.

Allison Transmission declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In other Allison Transmission news, insider David S. Graziosi sold 58,800 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $42.51, for a total value of $2,499,588.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric C. Scroggins sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $39.51, for a total transaction of $296,325.00. Following the completion of the transaction, the vice president now directly owns 23,480 shares in the company, valued at approximately $927,694.80. The disclosure for this sale can be found here. Insiders have sold 3,413,129 shares of company stock worth $150,042,595 in the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Group One Trading L.P. bought a new position in Allison Transmission in the third quarter worth about $105,000. American International Group Inc. bought a new position in Allison Transmission in the fourth quarter worth about $127,000. Tower Research Capital LLC TRC lifted its holdings in Allison Transmission by 7,314.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock worth $195,000 after acquiring an additional 5,120 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Allison Transmission by 12.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after acquiring an additional 607 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Allison Transmission in the third quarter valued at approximately $203,000.

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About Allison Transmission

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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