Allison Transmission Holdings (NYSE:ALSN) declared that its Board of Directors has initiated a share repurchase plan, which allows the company to buyback $1.00 billion in outstanding shares on Wednesday, November 16th, EventVestor reports. This buyback authorization allows the auto parts company to reacquire up to 19% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
ALSN has been the topic of a number of research analyst reports. Barclays PLC boosted their price target on Allison Transmission Holdings from $39.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Piper Jaffray Companies set a $30.00 price target on Allison Transmission Holdings and gave the company a “sell” rating in a report on Thursday, April 27th. Royal Bank Of Canada boosted their price target on Allison Transmission Holdings from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Stifel Nicolaus boosted their price target on Allison Transmission Holdings from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Deutsche Bank AG boosted their price target on Allison Transmission Holdings from $43.00 to $44.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.56.
Allison Transmission Holdings (NYSE:ALSN) traded down 0.51% on Friday, hitting $36.85. The company’s stock had a trading volume of 216,089 shares. Allison Transmission Holdings has a 12 month low of $26.74 and a 12 month high of $40.25. The firm has a 50 day moving average of $37.71 and a 200 day moving average of $37.00. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 20.93 and a beta of 1.18.
Allison Transmission Holdings (NYSE:ALSN) last posted its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Allison Transmission Holdings had a net margin of 14.32% and a return on equity of 31.27%. The firm had revenue of $580 million during the quarter, compared to the consensus estimate of $515.03 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that Allison Transmission Holdings will post $2.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, August 21st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, August 17th. Allison Transmission Holdings’s dividend payout ratio is presently 33.71%.
In other news, SVP Randall R. Kirk sold 7,222 shares of Allison Transmission Holdings stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $38.73, for a total transaction of $279,708.06. Following the completion of the sale, the senior vice president now owns 75,212 shares of the company’s stock, valued at $2,912,960.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Randall R. Kirk sold 7,284 shares of Allison Transmission Holdings stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $37.78, for a total transaction of $275,189.52. Following the sale, the senior vice president now directly owns 78,347 shares of the company’s stock, valued at approximately $2,959,949.66. The disclosure for this sale can be found here. Insiders have sold 132,584 shares of company stock valued at $5,126,514 in the last ninety days. Insiders own 7.90% of the company’s stock.
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About Allison Transmission Holdings
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).
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