Allison Transmission (NYSE:ALSN) Shares Gap Down Following Analyst Downgrade

Allison Transmission Holdings, Inc. (NYSE:ALSN)’s stock price gapped down prior to trading on Wednesday after Citigroup lowered their price target on the stock from $120.00 to $115.00. The stock had previously closed at $114.19, but opened at $97.70. Citigroup currently has a neutral rating on the stock. Allison Transmission shares last traded at $98.86, with a volume of 744,148 shares changing hands.

Several other equities analysts have also issued reports on ALSN. Robert W. Baird lifted their target price on Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 12th. Morgan Stanley increased their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Oppenheimer lifted their price target on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.75.

Insider Buying and Selling at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the transaction, the senior vice president now owns 6,420 shares in the company, valued at approximately $695,928. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David S. Graziosi sold 11,590 shares of Allison Transmission stock in a transaction on Friday, November 29th. The shares were sold at an average price of $119.44, for a total value of $1,384,309.60. Following the completion of the transaction, the chief executive officer now owns 168,833 shares of the company’s stock, valued at approximately $20,165,413.52. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock valued at $2,683,537 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allison Transmission

Several hedge funds have recently made changes to their positions in the business. Smith Group Asset Management LLC purchased a new position in shares of Allison Transmission during the 4th quarter worth approximately $2,161,000. Glenmede Trust Co. NA boosted its position in Allison Transmission by 4.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company’s stock worth $9,333,000 after purchasing an additional 4,261 shares during the period. Franklin Resources Inc. raised its holdings in shares of Allison Transmission by 46.8% during the 3rd quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock valued at $24,955,000 after buying an additional 79,745 shares during the period. CWA Asset Management Group LLC purchased a new stake in Allison Transmission during the 3rd quarter worth $947,000. Finally, Geode Capital Management LLC lifted its holdings in Allison Transmission by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,961,834 shares of the auto parts company’s stock worth $188,511,000 after buying an additional 79,506 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Allison Transmission Trading Down 12.4 %

The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 1.48. The business has a 50 day simple moving average of $113.61 and a two-hundred day simple moving average of $103.66. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. As a group, equities analysts anticipate that Allison Transmission Holdings, Inc. will post 8.22 EPS for the current year.

About Allison Transmission

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.