Allegion PLC (NYSE:ALLE) has earned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $96.00.
ALLE has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on Allegion in a research report on Monday, August 20th. They set an “equal weight” rating and a $88.00 price objective for the company. Credit Suisse Group initiated coverage on Allegion in a research report on Friday, October 12th. They set an “outperform” rating and a $96.00 price objective for the company. Zacks Investment Research upgraded Allegion from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Wells Fargo & Co raised their price objective on Allegion from $96.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Finally, ValuEngine upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th.
In other Allegion news, insider Douglas P. Ranck sold 3,200 shares of Allegion stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $89.78, for a total value of $287,296.00. Following the completion of the sale, the insider now directly owns 10,348 shares in the company, valued at $929,043.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.75% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH acquired a new stake in Allegion in the first quarter valued at approximately $328,000. Cornerstone Wealth Management LLC acquired a new stake in Allegion in the second quarter valued at approximately $279,000. BNP Paribas Arbitrage SA grew its stake in Allegion by 58.8% in the second quarter. BNP Paribas Arbitrage SA now owns 23,888 shares of the scientific and technical instruments company’s stock valued at $1,848,000 after acquiring an additional 8,848 shares during the period. Daiwa Securities Group Inc. grew its stake in Allegion by 28.2% in the second quarter. Daiwa Securities Group Inc. now owns 3,683 shares of the scientific and technical instruments company’s stock valued at $285,000 after acquiring an additional 810 shares during the period. Finally, TD Asset Management Inc. grew its stake in Allegion by 3.5% in the second quarter. TD Asset Management Inc. now owns 200,624 shares of the scientific and technical instruments company’s stock valued at $15,521,000 after acquiring an additional 6,763 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.
Shares of ALLE traded down $1.07 during mid-day trading on Monday, reaching $88.67. 547,023 shares of the company were exchanged, compared to its average volume of 610,347. Allegion has a 52 week low of $73.85 and a 52 week high of $94.30. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.79 and a quick ratio of 1.22. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.
Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. Allegion had a return on equity of 85.03% and a net margin of 11.75%. The company had revenue of $711.50 million during the quarter, compared to the consensus estimate of $699.07 million. As a group, sell-side analysts anticipate that Allegion will post 4.49 EPS for the current year.
Allegion Company Profile
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
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