Raymond James Initiates Coverage on Allison Transmission (NYSE:ALSN)

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

A number of other brokerages have also recently commented on ALSN. Robert W. Baird increased their price target on Allison Transmission from $84.00 to $87.00 and gave the company a neutral rating in a research note on Friday, April 26th. Oppenheimer increased their price target on Allison Transmission from $67.00 to $90.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Citigroup started coverage on Allison Transmission in a research note on Wednesday, June 26th. They issued a neutral rating and a $80.00 price target for the company. The Goldman Sachs Group increased their price target on Allison Transmission from $55.00 to $63.00 and gave the company a sell rating in a research note on Tuesday, April 16th. Finally, StockNews.com raised Allison Transmission from a buy rating to a strong-buy rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Allison Transmission has an average rating of Hold and an average target price of $75.25.

Allison Transmission Trading Down 1.2 %

Shares of ALSN stock opened at $74.96 on Friday. The stock’s fifty day moving average price is $75.17 and its two-hundred day moving average price is $70.96. The company has a market cap of $6.56 billion, a PE ratio of 10.01, a P/E/G ratio of 1.41 and a beta of 1.00. Allison Transmission has a fifty-two week low of $50.13 and a fifty-two week high of $83.42. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.95 and a current ratio of 2.51.

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

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, May 17th. Allison Transmission’s dividend payout ratio is currently 13.35%.

Insider Transactions at Allison Transmission

In other Allison Transmission news, VP Rafael Basso sold 12,624 shares of the 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 transaction, the vice president now directly owns 4,624 shares in the company, valued at approximately $344,395.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Allison Transmission

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

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.