Bank of America Increases Allison Transmission (NYSE:ALSN) Price Target to $79.00

Allison Transmission (NYSE:ALSN - Free Report) had its price target boosted by Bank of America from $74.00 to $79.00 in a report issued on Monday,Benzinga reports. Bank of America currently has an underperform rating on the auto parts company's stock.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen upgraded Allison Transmission from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. JPMorgan Chase & Co. dropped their price target on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Morgan Stanley increased their price objective on Allison Transmission from $94.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Robert W. Baird lowered their target price on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Citigroup dropped their target price on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $98.38.

Allison Transmission Stock Performance

Shares of NYSE:ALSN traded down $1.33 during midday trading on Monday, reaching $92.08. The company's stock had a trading volume of 882,837 shares, compared to its average volume of 660,470. The company has a quick ratio of 2.37, a current ratio of 3.05 and a debt-to-equity ratio of 1.44. The stock has a fifty day moving average of $97.86 and a 200 day moving average of $103.34. Allison Transmission has a twelve month low of $73.65 and a twelve month high of $122.53. The firm has a market capitalization of $7.76 billion, a PE ratio of 10.66 and a beta of 1.00.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The auto parts company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.97 by $0.26. Allison Transmission had a net margin of 23.55% and a return on equity of 46.97%. The company had revenue of $766.00 million for the quarter, compared to analyst estimates of $792.18 million. During the same period in the prior year, the company earned $1.90 earnings per share. The firm's revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that Allison Transmission will post 9.06 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, May 19th. Allison Transmission's dividend payout ratio (DPR) is presently 12.50%.

Allison Transmission declared that its board has approved a stock repurchase program on Thursday, February 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, SVP John Coll sold 1,788 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the sale, the senior vice president now owns 15,388 shares in the company, valued at $1,466,938.04. This trade represents a 10.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ryan A. Milburn sold 3,412 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total value of $359,078.88. Following the completion of the transaction, the vice president now owns 11,924 shares in the company, valued at $1,254,881.76. This represents a 22.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Transce3nd LLC purchased a new stake in shares of Allison Transmission in the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC purchased a new position in shares of Allison Transmission during the 4th quarter worth approximately $30,000. Vermillion Wealth Management Inc. acquired a new stake in Allison Transmission in the 4th quarter valued at approximately $31,000. SVB Wealth LLC purchased a new stake in Allison Transmission in the first quarter valued at approximately $33,000. Finally, WPG Advisers LLC purchased a new stake in Allison Transmission in the first quarter valued at approximately $34,000. 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.