Allison Transmission Holdings, Inc. (ALSN - Free Report) is partnering with Westfield, IN-based LHP Telematics LLC to add support for Allison’s 4th and 5th generation transmissions. Telematics is a provider of telematics solutions for equipment manufacturers. Telematics will provide its custom-made white label telematics solutions that are designed for OEMs, and dealer networks in the off & on-highway, construction and other markets.
Per Allison’s management, this collaboration will aid the company to extend its development in connected ecosystem. This new technology will help customers to get important information about their transmissions from a known source. Using Telematics’ service will cut costs and downtime for maintaining transmissions.
The company frequently collaborates with others to support connected vehicle ecosystem for its conventional and hybrid transmissions. In September, Allison collaborated with Clever Devices, Ltd. and Geotab Inc. for technology that can provide diagnostic transmission information of bus fleets.
Allison Transmission Holdings, Inc. Price and Consensus
Indianapolis, IN-based Allison is a designer and manufacturer of fully-automatic transmissions for vehicles. The company’s transmissions are used in construction, distribution, transit, and on & off-highway vehicles.
In the past three months, Allison’s stock has lost 3.7%, outperforming 21.4% decrease recorded by the industry it belongs to.
Zacks Rank & Other Key Picks
Allison currently carries a Zacks Rank #1 (Strong Buy). A few other top-ranked stocks in the auto space include Advance Auto Parts, Inc. (AAP - Free Report) , General Motors Company (GM - Free Report) and O’Reilly Automotive, Inc. (ORLY - Free Report) , each carrying Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Advance Auto has an expected long-term growth rate of 13.1%. Shares of the company have increased 10.9% over the past three months.
General Motors has an expected long-term growth rate of 8.5%. Shares of the company have rallied 13.8% over the past month.
O’Reilly has an expected long-term growth rate of 15.7%. Over the past three months, shares of the company have gained 7.3%.
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