The stock of Allison Transmission Holdings Inc (NYSE:ALSN) hit a new 52-week high and has $49.86 target or 58.00% above today’s $31.56 share price. The 9 months bullish chart indicates low risk for the $5.20 billion company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $49.86 price target is reached, the company will be worth $3.02B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 245,509 shares traded hands. Allison Transmission Holdings Inc (NYSE:ALSN) has risen 14.17% since April 14, 2016 and is uptrending. It has outperformed by 9.48% the S&P500.
Allison Transmission Holdings Inc (NYSE:ALSN) Ratings Coverage
Out of 10 analysts covering Allison Transmission Holdings (NYSE:ALSN), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. $35 is the highest target while $25 is the lowest. The $29.56 average target is -6.34% below today’s ($31.56) stock price. Allison Transmission Holdings has been the topic of 22 analyst reports since July 30, 2015 according to StockzIntelligence Inc. As per Monday, January 4, the company rating was downgraded by Robert W. Baird. The firm earned “Mkt Outperform” rating on Wednesday, December 2 by Avondale. As per Friday, September 25, the company rating was initiated by Barclays Capital. The rating was maintained by Citigroup on Friday, July 29 with “Neutral”. RBC Capital Markets initiated the stock with “Outperform” rating in Tuesday, March 15 report. CLSA initiated Allison Transmission Holdings Inc (NYSE:ALSN) on Friday, September 30 with “Outperform” rating. Deutsche Bank downgraded Allison Transmission Holdings Inc (NYSE:ALSN) rating on Tuesday, September 22. Deutsche Bank has “Hold” rating and $28.0 price target. The firm has “Hold” rating by Deutsche Bank given on Wednesday, September 7. Bank of America upgraded the stock to “Buy” rating in Wednesday, March 2 report. The firm earned “Overweight” rating on Wednesday, October 12 by Barclays Capital.
According to Zacks Investment Research, “Allison Transmission Holdings, Inc. is engaged in the manufacturing of fully-automatic transmissions for medium- and heavy-duty commercial vehicles, medium- and heavy-tactical U.S. military vehicles and hybrid-propulsion systems for transit buses. The Company’s products are used in a variety of applications including on-highway trucks, buses, motorhomes, off-highway vehicles and equipment and military vehicles. Allison Transmission Holdings, Inc. is headquartered in Indianapolis, Indiana.”
Insitutional Activity: The institutional sentiment decreased to 0.86 in 2016 Q2. Its down 0.30, from 1.16 in 2016Q1. The ratio worsened, as 28 funds sold all Allison Transmission Holdings Inc shares owned while 90 reduced positions. 24 funds bought stakes while 77 increased positions. They now own 154.23 million shares or 8.61% less from 168.77 million shares in 2016Q1.
Ami Inv Management holds 2.26% or 108,100 shares in its portfolio. Epoch Investment Partners last reported 0.05% of its portfolio in the stock. Massachusetts Fincl Company Ma holds 0.07% of its portfolio in Allison Transmission Holdings Inc (NYSE:ALSN) for 5.06 million shares. Benjamin F Edwards Incorporated holds 0% or 127 shares in its portfolio. Rockefeller Inc owns 33,000 shares or 0.02% of their US portfolio. The New York-based State Bank Of Ny Mellon has invested 0.02% in Allison Transmission Holdings Inc (NYSE:ALSN). Moreover, Timucuan Asset Mngmt Inc Fl has 8.72% invested in Allison Transmission Holdings Inc (NYSE:ALSN) for 3.38M shares. Jane Street Gru has 24,507 shares for 0% of their US portfolio. Amalgamated National Bank & Trust owns 17,106 shares or 0.03% of their US portfolio. Victory Capital Mgmt holds 1.18M shares or 0.13% of its portfolio. Glg Lc holds 0.09% of its portfolio in Allison Transmission Holdings Inc (NYSE:ALSN) for 41,371 shares. California State Teachers Retirement last reported 0.02% of its portfolio in the stock. Seabridge Advsrs has 0.01% invested in the company for 1,230 shares. The California-based Blackrock Institutional Tru Company Na has invested 0.02% in Allison Transmission Holdings Inc (NYSE:ALSN). Comerica National Bank & Trust has 166,734 shares for 0.04% of their US portfolio.
Insider Transactions: Since August 10, 2016, the stock had 0 insider purchases, and 6 sales for $124.93 million net activity. Kirk Randall R. sold $2.60 million worth of stock or 93,210 shares. Scroggins Eric C. had sold 1,238 shares worth $35,939. Dick Michael had sold 24,936 shares worth $726,037. ValueAct Holdings – L.P. also sold $121.26M worth of Allison Transmission Holdings Inc (NYSE:ALSN) shares. On Wednesday, August 10 the insider Dean Sharon L. sold $154,825.
Another recent and important Allison Transmission Holdings Inc (NYSE:ALSN) news was published by Prnewswire.com which published an article titled: “Allison Transmission Announces Third Quarter 2016 Results” on October 24, 2016.
ALSN Company Profile
Allison Transmission Holdings, Inc., incorporated on June 22, 2007, and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Firm makes fully-automatic transmissions for medium- and heavy-duty commercial vehicles and medium-and heavy-tactical the United States defense vehicles. The Firm operates through manufacture and distribution of fully-automatic transmissions segment. 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). The Company’s transmissions are sold under the Allison Transmission brand name and remanufactured transmissions are sold under the ReTran brand name. The Firm has developed over 100 different models that are used in over 2,500 different vehicle configurations and are compatible with over 500 combinations of engine brands, models and ratings, including diesel, gasoline, natural gas and other alternative fuels.
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