JPMorgan Chase & Co. Issues Pessimistic Forecast for Allison Transmission (NYSE:ALSN) Stock Price

Allison Transmission (NYSE:ALSN - Get Free Report) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $129.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the auto parts company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 14.14% from the stock's current price.

Several other research firms also recently issued reports on ALSN. The Goldman Sachs Group boosted their price target on Allison Transmission from $82.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 12th. Morgan Stanley upped their price target on shares of Allison Transmission from $110.00 to $112.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. StockNews.com cut shares of Allison Transmission from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Citigroup decreased their target price on shares of Allison Transmission from $120.00 to $115.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $102.00.

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Allison Transmission Stock Performance

ALSN stock traded down $2.52 during midday trading on Tuesday, reaching $96.38. 3,525,355 shares of the company were exchanged, compared to its average volume of 596,436. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 11.60 and a beta of 1.02. The business has a 50-day moving average price of $106.89 and a two-hundred day moving average price of $105.79. Allison Transmission has a one year low of $71.49 and a one year high of $122.53. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. Equities research analysts forecast that Allison Transmission will post 9.06 EPS for the current year.

Allison Transmission announced that its board has authorized a stock repurchase program on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to repurchase up to 57.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the sale, the vice president now owns 14,138 shares of the company's stock, valued at approximately $1,360,075.60. The trade was a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John Coll sold 2,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the transaction, the senior vice president now owns 6,420 shares of the company's stock, valued at $695,928. The trade was a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Allison Transmission

Institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of Allison Transmission in the third quarter valued at approximately $560,000. Victory Capital Management Inc. increased its position in Allison Transmission by 86.7% in the 3rd quarter. Victory Capital Management Inc. now owns 245,148 shares of the auto parts company's stock valued at $23,551,000 after acquiring an additional 113,868 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Allison Transmission by 133.0% during the third quarter. Oppenheimer & Co. Inc. now owns 13,917 shares of the auto parts company's stock valued at $1,337,000 after acquiring an additional 7,944 shares during the last quarter. KBC Group NV lifted its holdings in shares of Allison Transmission by 15.0% during the third quarter. KBC Group NV now owns 2,221 shares of the auto parts company's stock worth $213,000 after purchasing an additional 290 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of Allison Transmission in the third quarter worth $244,000. Institutional investors and hedge funds own 96.90% of the company's stock.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.