Wells Fargo & Company Boosts Allison Transmission (NYSE:ALSN) Price Target to $137.00

Allison Transmission (NYSE:ALSN) had its target price hoisted by Wells Fargo & Company from $127.00 to $137.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 3.98% from the stock’s current price.

ALSN has been the topic of several other research reports. JPMorgan Chase & Co. upped their target price on shares of Allison Transmission from $87.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Weiss Ratings downgraded shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 25th. Zacks Research downgraded shares of Allison Transmission from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Oppenheimer increased their price objective on shares of Allison Transmission from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Finally, Citigroup increased their price objective on shares of Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $115.38.

Allison Transmission Stock Up 3.4%

Shares of NYSE ALSN traded up $4.39 during midday trading on Wednesday, hitting $131.76. The stock had a trading volume of 94,124 shares, compared to its average volume of 860,600. The business’s 50 day moving average is $122.10 and its 200-day moving average is $106.13. The company has a market cap of $10.95 billion, a P/E ratio of 20.46, a PEG ratio of 0.77 and a beta of 1.01. Allison Transmission has a 52 week low of $76.01 and a 52 week high of $137.62. The company has a quick ratio of 4.17, a current ratio of 4.85 and a debt-to-equity ratio of 1.55.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.47. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.38 billion. Allison Transmission had a net margin of 14.88% and a return on equity of 37.93%. The business’s revenue was up 83.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.23 earnings per share. As a group, analysts predict that Allison Transmission will post 9.68 EPS for the current year.

Insiders Place Their Bets

In related news, insider Eric C. Scroggins sold 1,313 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $114.40, for a total transaction of $150,207.20. Following the transaction, the insider owned 17,654 shares in the company, valued at $2,019,617.60. This represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Allison Transmission

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALSN. Bank of Montreal Can increased its holdings in Allison Transmission by 4,032.3% during the fourth quarter. Bank of Montreal Can now owns 2,151,871 shares of the auto parts company’s stock valued at $210,668,000 after buying an additional 2,099,797 shares during the last quarter. Norges Bank purchased a new stake in Allison Transmission during the fourth quarter valued at approximately $115,674,000. Boston Partners increased its holdings in Allison Transmission by 117.6% during the third quarter. Boston Partners now owns 2,038,429 shares of the auto parts company’s stock valued at $173,093,000 after buying an additional 1,101,824 shares during the last quarter. Millennium Management LLC increased its holdings in Allison Transmission by 191.7% during the fourth quarter. Millennium Management LLC now owns 1,257,353 shares of the auto parts company’s stock valued at $123,095,000 after buying an additional 826,352 shares during the last quarter. Finally, UBS Group AG increased its holdings in Allison Transmission by 222.2% during the third quarter. UBS Group AG now owns 960,548 shares of the auto parts company’s stock valued at $81,531,000 after buying an additional 662,458 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Company Profile

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.