Citigroup Forecasts Strong Price Appreciation for Allison Transmission (NYSE:ALSN) Stock

Allison Transmission (NYSE:ALSN) had its price objective raised by equities researchers at Citigroup from $100.00 to $105.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price target indicates a potential upside of 5.92% from the stock’s current price.

Other analysts also recently issued reports about the company. Zacks Research raised Allison Transmission from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. Wells Fargo & Company assumed coverage on shares of Allison Transmission in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $85.00 price target on the stock. Weiss Ratings cut shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Raymond James Financial upgraded Allison Transmission from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $105.00 to $110.00 in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Allison Transmission from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.50.

Allison Transmission Stock Performance

NYSE ALSN traded down $0.16 during trading hours on Friday, reaching $99.14. 332,694 shares of the company were exchanged, compared to its average volume of 855,769. The company has a quick ratio of 3.06, a current ratio of 3.82 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $8.25 billion, a P/E ratio of 12.15 and a beta of 0.99. Allison Transmission has a 1 year low of $76.01 and a 1 year high of $121.81. The business’s 50 day simple moving average is $86.21 and its 200-day simple moving average is $89.09.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Wednesday, October 29th. The auto parts company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.32). Allison Transmission had a return on equity of 40.46% and a net margin of 22.78%.The business had revenue of $693.00 million during the quarter, compared to analysts’ expectations of $779.97 million. During the same quarter in the previous year, the business earned $2.27 EPS. Allison Transmission’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, equities research analysts expect that Allison Transmission will post 9.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Raymond James Financial Inc. increased its position in Allison Transmission by 3.0% during the first quarter. Raymond James Financial Inc. now owns 391,430 shares of the auto parts company’s stock worth $37,448,000 after purchasing an additional 11,259 shares during the last quarter. Northern Trust Corp lifted its holdings in Allison Transmission by 2.2% in the first quarter. Northern Trust Corp now owns 542,447 shares of the auto parts company’s stock valued at $51,896,000 after acquiring an additional 11,636 shares during the last quarter. Quantbot Technologies LP purchased a new position in Allison Transmission in the first quarter worth approximately $2,113,000. Hsbc Holdings PLC acquired a new stake in Allison Transmission during the first quarter worth $513,000. Finally, Compound Planning Inc. raised its position in Allison Transmission by 5.3% in the first quarter. Compound Planning Inc. now owns 2,180 shares of the auto parts company’s stock valued at $209,000 after purchasing an additional 109 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

About Allison Transmission

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.