Stock Buyback Program Declared by Allison Transmission Holdings (ALSN) Board of Directors

Allison Transmission Holdings (NYSE:ALSN) declared that its board has initiated a share buyback program, which permits the company to buyback $1.00 billion in shares on Wednesday, November 16th, EventVestor reports. This buyback authorization permits the auto parts company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

A number of research analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “buy” rating on shares of Allison Transmission Holdings in a report on Wednesday, August 2nd. Piper Jaffray Companies reiterated a “sell” rating and set a $31.00 price objective on shares of Allison Transmission Holdings in a report on Wednesday, July 12th. Deutsche Bank AG decreased their price objective on Allison Transmission Holdings from $44.00 to $43.00 and set a “hold” rating for the company in a report on Wednesday, August 2nd. BidaskClub downgraded Allison Transmission Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Stifel Nicolaus set a $41.00 price target on Allison Transmission Holdings and gave the company a “hold” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Allison Transmission Holdings presently has a consensus rating of “Buy” and a consensus target price of $40.56.

Allison Transmission Holdings (NYSE:ALSN) opened at 37.18 on Wednesday. Allison Transmission Holdings has a 1-year low of $26.74 and a 1-year high of $40.25. The firm has a 50-day moving average price of $37.69 and a 200-day moving average price of $37.07. The company has a market capitalization of $5.53 billion, a P/E ratio of 21.11 and a beta of 1.18.

Allison Transmission Holdings (NYSE:ALSN) last released its earnings results on Monday, July 31st. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.16. The company had revenue of $580 million during the quarter, compared to analyst estimates of $515.03 million. Allison Transmission Holdings had a return on equity of 31.27% and a net margin of 14.32%. Allison Transmission Holdings’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. On average, analysts forecast that Allison Transmission Holdings will post $2.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, August 17th. Allison Transmission Holdings’s dividend payout ratio (DPR) is 33.71%.

In other news, CFO David S. Graziosi sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $38.19, for a total value of $1,909,500.00. Following the completion of the transaction, the chief financial officer now directly owns 244,123 shares of the company’s stock, valued at $9,323,057.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David S. Graziosi sold 10,736 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $39.91, for a total value of $428,473.76. Following the completion of the transaction, the chief financial officer now directly owns 204,859 shares of the company’s stock, valued at $8,175,922.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,584 shares of company stock valued at $5,126,514. 7.90% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “Stock Buyback Program Declared by Allison Transmission Holdings (ALSN) Board of Directors” was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://transcriptdaily.com/2017/08/16/stock-buyback-program-declared-by-allison-transmission-holdings-alsn-board-of-directors.html.

Allison Transmission Holdings Company Profile

Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).

Receive News & Ratings for Allison Transmission Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allison Transmission Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply