Stock Repurchase Program Approved by Allison Transmission Holdings (ALSN) Board

Allison Transmission Holdings (NYSE:ALSN) announced that its board has authorized a stock repurchase program, which allows the company to buyback $1.00 billion in shares on Wednesday, November 16th, EventVestor reports. This buyback authorization allows the auto parts company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

ALSN has been the subject of several recent analyst reports. Barclays PLC upped their target price on Allison Transmission Holdings from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Piper Jaffray Companies set a $30.00 target price on Allison Transmission Holdings and gave the stock a “sell” rating in a research note on Thursday, April 27th. Royal Bank Of Canada upped their target price on Allison Transmission Holdings from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Stifel Nicolaus upped their target price on Allison Transmission Holdings from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, Deutsche Bank AG upped their price target on shares of Allison Transmission Holdings from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.56.

Allison Transmission Holdings (NYSE ALSN) opened at 36.57 on Friday. The stock’s 50 day moving average is $37.70 and its 200 day moving average is $37.02. The firm has a market capitalization of $5.44 billion, a P/E ratio of 20.77 and a beta of 1.18. Allison Transmission Holdings has a one year low of $26.74 and a one year high of $40.25.

Allison Transmission Holdings (NYSE:ALSN) last released its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $515.03 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Allison Transmission Holdings will post $2.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, August 17th. Allison Transmission Holdings’s payout ratio is 33.71%.

In other Allison Transmission Holdings news, SVP Randall R. Kirk sold 7,222 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $38.73, for a total value of $279,708.06. Following the transaction, the senior vice president now owns 75,212 shares in the company, valued at $2,912,960.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael Dick sold 7,342 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $38.02, for a total transaction of $279,142.84. Following the completion of the transaction, the senior vice president now owns 36,931 shares in the company, valued at approximately $1,404,116.62. The disclosure for this sale can be found here. Insiders sold 132,584 shares of company stock worth $5,126,514 in the last 90 days. Corporate insiders own 7.90% of the company’s stock.

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Allison Transmission Holdings Company Profile

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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