NEW YORK (TheStreet) -- Shares of Allison Transmission Holdings Inc. (ALSN) - Get Report are higher by 5.90 % to $31.43 in late morning trading on Tuesday, after the company reported a rise in 2014 third quarter net income to $68.8 million, or 38 cents per share, compared to $44.5 million, or 24 cents per share, for the year ago quarter.

The company, a designer and manufacturer of commercial and military fully-automatic transmissions, said revenue for the most recent quarter grew by 19% to $553 million, from $466 million for the 2013 third quarter.

Analysts polled by Thomson Reuters expected earnings per share of 30 cents on revenue of $501.6 million for the quarter.

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Separately, TheStreet Ratings team rates ALLISON TRANSMISSION HLDGS as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ALLISON TRANSMISSION HLDGS (ALSN) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and premium valuation."

You can view the full analysis from the report here: ALSN Ratings Report

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