Morgan Stanley Initiates Coverage on Allison Transmission (NYSE:ALSN)

Morgan Stanley started coverage on shares of Allison Transmission (NYSE:ALSN) in a report published on Wednesday, Benzinga reports. The firm issued an equal weight rating and a $50.00 target price on the auto parts company’s stock.

Separately, Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $48.60.

ALSN stock opened at $45.92 on Wednesday. The firm has a fifty day simple moving average of $45.10. Allison Transmission has a 12 month low of $40.35 and a 12 month high of $53.76. The stock has a market cap of $5.75 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.98 and a beta of 1.41. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.49 and a current ratio of 1.89.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Tuesday, April 23rd. The auto parts company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.12 by $0.20. Allison Transmission had a net margin of 24.04% and a return on equity of 97.36%. The firm had revenue of $675.00 million during the quarter, compared to the consensus estimate of $658.01 million. During the same quarter in the prior year, the firm earned $1.08 EPS. Allison Transmission’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, research analysts anticipate that Allison Transmission will post 4.67 EPS for the current year.

In other news, CFO G Frederick Bohley acquired 5,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was bought at an average price of $46.00 per share, for a total transaction of $230,000.00. Following the transaction, the chief financial officer now owns 40,940 shares in the company, valued at $1,883,240. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Harker sold 75,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $47.08, for a total transaction of $3,531,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,089,819 shares of company stock valued at $237,568,166. 9.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Empowered Funds LLC grew its stake in shares of Allison Transmission by 0.5% during the 1st quarter. Empowered Funds LLC now owns 52,820 shares of the auto parts company’s stock worth $2,373,000 after purchasing an additional 274 shares during the period. RDL Financial Inc. grew its stake in shares of Allison Transmission by 2.0% during the 2nd quarter. RDL Financial Inc. now owns 17,613 shares of the auto parts company’s stock worth $816,000 after purchasing an additional 350 shares during the period. Argent Capital Management LLC grew its stake in shares of Allison Transmission by 1.5% during the 1st quarter. Argent Capital Management LLC now owns 23,216 shares of the auto parts company’s stock worth $1,043,000 after purchasing an additional 353 shares during the period. Advisory Services Network LLC grew its stake in shares of Allison Transmission by 128.3% during the 4th quarter. Advisory Services Network LLC now owns 685 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 385 shares during the period. Finally, Cerebellum GP LLC grew its stake in shares of Allison Transmission by 6.4% during the 2nd quarter. Cerebellum GP LLC now owns 7,512 shares of the auto parts company’s stock worth $348,000 after purchasing an additional 452 shares during the period. Institutional investors own 92.51% of the company’s stock.

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 12 transmission product lines for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.

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Analyst Recommendations for Allison Transmission (NYSE:ALSN)

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