Allison Transmission (NYSE:ALSN) Now Covered by Analysts at Raymond James

Raymond James initiated coverage on shares of Allison Transmission (NYSE:ALSN) in a research note issued to investors on Friday morning, Marketbeat reports. The firm issued an outperform rating and a $85.00 target price on the auto parts company’s stock.

A number of other equities research analysts have also commented on ALSN. StockNews.com upgraded shares of Allison Transmission from a buy rating to a strong-buy rating in a report on Friday, June 7th. Oppenheimer increased their price objective on shares of Allison Transmission from $67.00 to $90.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. The Goldman Sachs Group increased their price objective on shares of Allison Transmission from $55.00 to $63.00 and gave the company a sell rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised their target price on shares of Allison Transmission from $70.00 to $78.00 and gave the company a neutral rating in a report on Monday, April 15th. Finally, Robert W. Baird raised their price target on Allison Transmission from $84.00 to $87.00 and gave the stock a neutral rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $75.25.

Allison Transmission Price Performance

ALSN opened at $75.90 on Friday. The firm has a 50-day moving average price of $75.26 and a 200-day moving average price of $70.84. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.41 and a beta of 1.02. Allison Transmission has a twelve month low of $50.13 and a twelve month high of $83.42. The company has a quick ratio of 1.95, a current ratio of 2.51 and a debt-to-equity ratio of 1.79.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Thursday, April 25th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. Allison Transmission had a net margin of 21.80% and a return on equity of 55.83%. The business had revenue of $789.00 million during the quarter, compared to analyst estimates of $772.37 million. During the same period in the previous year, the business posted $1.85 earnings per share. Allison Transmission’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts expect that Allison Transmission will post 7.56 EPS for the current year.

Allison Transmission Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Friday, May 17th. Allison Transmission’s payout ratio is presently 13.35%.

Insider Buying and Selling at Allison Transmission

In other news, VP Rafael Basso sold 12,624 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $74.48, for a total transaction of $940,235.52. Following the completion of the transaction, the vice president now directly owns 4,624 shares of the company’s stock, valued at approximately $344,395.52. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allison Transmission

Hedge funds have recently modified their holdings of the business. Keynote Financial Services LLC acquired a new stake in Allison Transmission in the 1st quarter valued at about $1,055,000. Cetera Advisors LLC grew its stake in Allison Transmission by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 4,461 shares of the auto parts company’s stock worth $362,000 after buying an additional 408 shares during the last quarter. Burney Co. grew its stake in Allison Transmission by 34.7% during the 1st quarter. Burney Co. now owns 395,752 shares of the auto parts company’s stock worth $32,119,000 after buying an additional 101,920 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Allison Transmission by 11.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,661 shares of the auto parts company’s stock worth $378,000 after buying an additional 472 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Allison Transmission by 25.3% during the 1st quarter. Janus Henderson Group PLC now owns 56,998 shares of the auto parts company’s stock worth $4,627,000 after buying an additional 11,495 shares during the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

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.