The Goldman Sachs Group Raises Allison Transmission (NYSE:ALSN) Price Target to $90.00

Allison Transmission (NYSE:ALSN - Get Free Report) had its price target hoisted by stock analysts at The Goldman Sachs Group from $80.00 to $90.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "sell" rating on the auto parts company's stock. The Goldman Sachs Group's target price would suggest a potential downside of 13.05% from the stock's current price.

ALSN has been the subject of a number of other research reports. Citigroup cut their price target 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. Raymond James dropped their target price on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley lifted their target price on shares of Allison Transmission from $94.00 to $100.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Allison Transmission from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $98.13.

Allison Transmission Price Performance

Allison Transmission stock traded down $1.29 during midday trading on Tuesday, reaching $103.51. The company had a trading volume of 963,123 shares, compared to its average volume of 644,829. The company has a market capitalization of $8.72 billion, a P/E ratio of 12.46 and a beta of 0.97. Allison Transmission has a 12-month low of $71.49 and a 12-month high of $122.53. The firm's fifty day simple moving average is $95.83 and its 200-day simple moving average is $104.95. 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 issued its quarterly earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.26. The firm had revenue of $766.00 million for the quarter, compared to analyst estimates of $792.18 million. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. Allison Transmission's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $1.90 EPS. As a group, equities analysts anticipate that Allison Transmission will post 9.06 EPS for the current year.

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

Insiders Place Their Bets

In other Allison Transmission news, VP Ryan A. Milburn sold 3,412 shares of the business's stock in a transaction 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. The trade was a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John Coll sold 1,788 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the transaction, the senior vice president now owns 15,388 shares of the company's stock, valued at approximately $1,466,938.04. The trade was a 10.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,746 shares of company stock worth $966,854 over the last 90 days. Corporate insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Allison Transmission

Institutional investors and hedge funds have recently modified their holdings of the company. Transce3nd LLC acquired a new position in shares of Allison Transmission during the fourth quarter worth $25,000. SRH Advisors LLC acquired a new position in shares of Allison Transmission during the fourth quarter worth $26,000. Kestra Investment Management LLC acquired a new position in shares of Allison Transmission during the fourth quarter worth $30,000. Vermillion Wealth Management Inc. acquired a new position in shares of Allison Transmission during the fourth quarter worth $31,000. Finally, SVB Wealth LLC acquired a new position in shares of Allison Transmission during the first quarter worth $33,000. 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.