Citigroup Forecasts Strong Price Appreciation for Allison Transmission (NYSE:ALSN) Stock

Allison Transmission (NYSE:ALSN) had its price objective lifted by analysts at Citigroup from $100.00 to $105.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price objective points to a potential upside of 6.40% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. JPMorgan Chase & Co. cut their target price on Allison Transmission from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Zacks Research raised Allison Transmission from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. Raymond James Financial upgraded Allison Transmission from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $105.00 to $110.00 in a research note on Monday, December 8th. Finally, Wells Fargo & Company initiated coverage on Allison Transmission in a research report on Thursday, November 13th. They set an “equal weight” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.50.

Allison Transmission Stock Performance

NYSE:ALSN opened at $98.68 on Friday. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 12.09 and a beta of 0.99. Allison Transmission has a fifty-two week low of $76.01 and a fifty-two week high of $121.81. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.06 and a current ratio of 3.82. The stock has a fifty day moving average price of $86.60 and a 200-day moving average price of $88.97.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Wednesday, October 29th. The auto parts company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.32). The company had revenue of $693.00 million during the quarter, compared to analyst estimates of $779.97 million. Allison Transmission had a net margin of 22.78% and a return on equity of 40.46%. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period last year, the firm earned $2.27 EPS. As a group, equities analysts anticipate that Allison Transmission will post 9.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Allison Transmission

Large investors have recently bought and sold shares of the company. Boston Partners grew its holdings in shares of Allison Transmission by 117.6% during the third quarter. Boston Partners now owns 2,038,429 shares of the auto parts company’s stock worth $173,093,000 after purchasing an additional 1,101,824 shares during the last quarter. AQR Capital Management LLC boosted its position in Allison Transmission by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,915,887 shares of the auto parts company’s stock worth $181,741,000 after buying an additional 304,974 shares during the period. Dimensional Fund Advisors LP grew its holdings in Allison Transmission by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,907,768 shares of the auto parts company’s stock worth $161,926,000 after acquiring an additional 32,996 shares during the last quarter. State Street Corp grew its holdings in Allison Transmission by 1.1% during the 2nd quarter. State Street Corp now owns 1,652,290 shares of the auto parts company’s stock worth $156,951,000 after acquiring an additional 17,783 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Allison Transmission by 35.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,544,799 shares of the auto parts company’s stock valued at $146,740,000 after acquiring an additional 406,540 shares during the period. 96.90% of the stock is currently owned by institutional investors.

About Allison Transmission

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.