Citigroup Lowers Allison Transmission (NYSE:ALSN) Price Target to $108.00

Allison Transmission (NYSE:ALSN - Free Report) had its price target lowered by Citigroup from $115.00 to $108.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the auto parts company's stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Allison Transmission from $129.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. The Goldman Sachs Group lifted their price objective on shares of 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 boosted their price target on Allison Transmission from $110.00 to $112.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Finally, StockNews.com downgraded Allison Transmission from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $101.13.

Remove Ads

Allison Transmission Price Performance

Shares of ALSN traded down $4.47 during mid-day trading on Monday, reaching $86.01. The stock had a trading volume of 1,077,442 shares, compared to its average volume of 627,209. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 10.35 and a beta of 0.95. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. Allison Transmission has a 12 month low of $71.49 and a 12 month high of $122.53. The business has a fifty day moving average of $103.21 and a 200 day moving average of $106.43.

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

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.27 per share. The ex-dividend date was Monday, March 3rd. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.26%. Allison Transmission's payout ratio is 13.00%.

Allison Transmission announced that its board has initiated 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 purchase up to 57.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the sale, the vice president now directly owns 14,138 shares in the company, valued at $1,360,075.60. This represents a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Coll sold 1,788 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the sale, the senior vice president now directly owns 15,388 shares of the company's stock, valued at approximately $1,466,938.04. This represents a 10.41 % 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.

Institutional Trading of Allison Transmission

Several large investors have recently made changes to their positions in ALSN. Citigroup Inc. boosted its holdings in Allison Transmission by 4.2% in the 3rd quarter. Citigroup Inc. now owns 43,114 shares of the auto parts company's stock valued at $4,142,000 after purchasing an additional 1,733 shares during the period. Bank of Montreal Can increased its holdings in Allison Transmission by 6.3% during the 3rd quarter. Bank of Montreal Can now owns 79,358 shares of the auto parts company's stock valued at $7,658,000 after purchasing an additional 4,690 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Allison Transmission by 30.0% in the third quarter. BNP Paribas Financial Markets now owns 34,958 shares of the auto parts company's stock valued at $3,358,000 after buying an additional 8,072 shares during the last quarter. Townsquare Capital LLC acquired a new position in Allison Transmission during the 3rd quarter worth about $317,000. Finally, Captrust Financial Advisors increased its position in Allison Transmission by 24.1% in the 3rd quarter. Captrust Financial Advisors now owns 31,499 shares of the auto parts company's stock valued at $3,026,000 after acquiring an additional 6,113 shares in the last quarter. Institutional investors 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.