Allison Transmission Holdings, Inc. (ALSN - Free Report) reported that it has allied with a number of North American telematics service providers (TSPs) to supply transmission health information by 2018 end. This will aid in providing an efficient fleet-management experience to the customers.
Per management, collaborating with TSPs and original equipment manufacturers will help Allison to offer connected capabilities to existing as well as new customers. Further, these collaborations will help the company to carve a future in global connected vehicle ecosystem.
The new connected capabilities, compatible with Allison fourth-generation electronic controls, will offer insight into more than 170 types of transmission conditions. This information will help clients to manage and maintain fleets by improving vehicle uptime. Few of the vehicle types, which can benefit from this system, are transit buses, motor coaches along with pick-up and delivery trucks.
Allison Transmission Holdings, Inc. Price and Consensus
Allison Transmission focuses on improvising its intelligent products, which will aid customers to manage and monitor their fleet operations in real-time. The company is one of the largest manufacturers of fully-automatic transmissions for medium and heavy-duty commercial vehicles. It also offers electric hybrid-propulsion systems for city buses.
In the past three months, Allison Transmission stock has moved up 9.4%, outperforming 5.9% increase of the industry it belongs to.
Zacks Rank & Other Stocks to Consider
Currently, Allison Transmission sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the auto space are Douglas Dynamics, Inc. (PLOW - Free Report) , General Motor Company (GM - Free Report) and Ferrari N.V. (RACE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Douglas Dynamics has an expected long-term growth rate of 15%. Shares of the company have risen 54% over the past year.
General Motor has an expected long-term growth rate of 5.5%. Shares of the company have risen 27.7% over the past year.
Ferrari has an expected long-term growth rate of 17.3%. Shares of the company have risen 59% over the past year.
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