Allison Transmission (NYSE:ALSN) Price Target Raised to $77.00 at Bank of America

Allison Transmission (NYSE:ALSN - Get Free Report) had its price objective boosted by stock analysts at Bank of America from $67.00 to $77.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "underperform" rating on the auto parts company's stock. Bank of America's price target would suggest a potential downside of 28.78% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of Allison Transmission from $97.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Robert W. Baird boosted their target price on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a "neutral" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Allison Transmission from $80.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, October 11th. The Goldman Sachs Group boosted their target price on shares of Allison Transmission from $63.00 to $72.00 and gave the stock a "sell" rating in a research note on Monday, July 29th. Finally, Oppenheimer boosted their target price on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $91.00.

Allison Transmission Stock Performance

ALSN stock traded up $7.96 during midday trading on Wednesday, hitting $108.11. 1,607,650 shares of the stock traded hands, compared to its average volume of 620,584. The firm has a market cap of $9.46 billion, a P/E ratio of 14.43, a PEG ratio of 1.78 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.78 and a quick ratio of 2.19. The stock's fifty day simple moving average is $93.79 and its 200-day simple moving average is $83.77. Allison Transmission has a 1-year low of $50.13 and a 1-year high of $109.30.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.01 by $0.26. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $790.08 million. During the same quarter last year, the business earned $1.76 earnings per share. The firm's revenue was up 12.0% on a year-over-year basis. On average, analysts expect that Allison Transmission will post 7.85 earnings per share for the current year.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, VP Thomas Eifert sold 1,741 shares of the business's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $100.00, for a total value of $174,100.00. Following the transaction, the vice president now directly owns 9,601 shares in the company, valued at $960,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $90.98, for a total value of $181,960.00. Following the transaction, the senior vice president now directly owns 12,420 shares in the company, valued at $1,129,971.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas Eifert sold 1,741 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $100.00, for a total transaction of $174,100.00. Following the completion of the transaction, the vice president now owns 9,601 shares in the company, valued at approximately $960,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,741 shares of company stock worth $546,060 in the last ninety days. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Allison Transmission

Several large investors have recently made changes to their positions in ALSN. Diversified Trust Co acquired a new position in shares of Allison Transmission in the 1st quarter worth approximately $372,000. Allspring Global Investments Holdings LLC increased its stake in Allison Transmission by 108.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 259,311 shares of the auto parts company's stock worth $21,046,000 after buying an additional 135,194 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Allison Transmission during the 1st quarter worth approximately $1,342,000. Principal Financial Group Inc. increased its stake in Allison Transmission by 23.6% during the 1st quarter. Principal Financial Group Inc. now owns 7,695 shares of the auto parts company's stock worth $625,000 after buying an additional 1,467 shares during the period. Finally, HB Wealth Management LLC increased its stake in Allison Transmission by 19.8% during the 1st quarter. HB Wealth Management LLC now owns 4,668 shares of the auto parts company's stock worth $379,000 after buying an additional 772 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Allison Transmission Company Profile

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.