Morgan Stanley Increases Allison Transmission (NYSE:ALSN) Price Target to $37.00


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Allison Transmission (NYSE:ALSN) had its price target increased by equities research analysts at Morgan Stanley from $34.00 to $37.00 in a research report issued on Monday, PriceTargets.com reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Morgan Stanley’s target price would indicate a potential downside of 14.57% from the company’s current price.

ALSN has been the subject of a number of other reports. Vertical Research assumed coverage on Allison Transmission in a research note on Wednesday, January 20th. They set a “hold” rating and a $44.00 price objective for the company. TheStreet lowered Allison Transmission from a “b” rating to a “c+” rating in a report on Wednesday, February 17th. Citigroup boosted their price target on Allison Transmission from $44.00 to $46.00 in a research note on Tuesday, March 16th. Raymond James lowered their price target on Allison Transmission from $51.00 to $45.00 and set a “strong-buy” rating for the company in a report on Thursday, February 25th. Finally, Bank of America downgraded Allison Transmission from a “neutral” rating to an “underperform” rating in a research note on Monday, January 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.50.

NYSE ALSN opened at $43.31 on Monday. The stock’s 50 day moving average is $40.97 and its 200 day moving average is $40.82. The company has a current ratio of 1.86, a quick ratio of 1.40 and a debt-to-equity ratio of 3.36. Allison Transmission has a 12 month low of $31.69 and a 12 month high of $45.92. The stock has a market cap of $4.81 billion, a PE ratio of 14.53, a P/E/G ratio of 1.65 and a beta of 1.23.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Tuesday, February 16th. The auto parts company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.06. The business had revenue of $535.00 million for the quarter, compared to the consensus estimate of $510.46 million. Allison Transmission had a return on equity of 46.60% and a net margin of 16.00%. On average, analysts forecast that Allison Transmission will post 2.67 EPS for the current fiscal year.

In related news, SVP Michael Dick sold 5,609 shares of Allison Transmission stock in a transaction on Monday, January 25th. The stock was sold at an average price of $45.00, for a total value of $252,405.00. Following the completion of the transaction, the senior vice president now directly owns 59,275 shares in the company, valued at $2,667,375. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ALSN. Boston Partners bought a new position in Allison Transmission in the fourth quarter worth about $276,478,000. Norges Bank acquired a new stake in shares of Allison Transmission in the fourth quarter valued at approximately $51,455,000. Principal Financial Group Inc. increased its stake in shares of Allison Transmission by 2,870.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,160,009 shares of the auto parts company’s stock valued at $50,032,000 after purchasing an additional 1,120,958 shares during the period. Eaton Vance Management acquired a new stake in shares of Allison Transmission in the fourth quarter valued at approximately $27,783,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Allison Transmission by 53.6% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,482,815 shares of the auto parts company’s stock valued at $63,954,000 after purchasing an additional 517,534 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.

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