Allegion PLC (NYSE:ALLE) Receives Average Rating of “Hold” from Analysts

Allegion PLC (NYSE:ALLE) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $107.71.

A number of research firms have recently commented on ALLE. Imperial Capital lifted their price target on shares of Allegion from $102.00 to $105.00 and gave the company an “in-line” rating in a research report on Tuesday, July 30th. Credit Suisse Group lowered shares of Allegion from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $108.00 to $112.00 in a research report on Monday, July 8th. They noted that the move was a valuation call. Bank of America lifted their price target on shares of Allegion from $114.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. ValuEngine lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley set a $100.00 price target on shares of Allegion and gave the company a “hold” rating in a research report on Friday, April 26th.

In related news, CAO Douglas P. Ranck sold 3,036 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $104.64, for a total transaction of $317,687.04. Following the transaction, the chief accounting officer now owns 5,442 shares of the company’s stock, valued at $569,450.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey N. Braun sold 6,218 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $104.44, for a total transaction of $649,407.92. Following the transaction, the senior vice president now directly owns 13,394 shares in the company, valued at approximately $1,398,869.36. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ALLE. BlackRock Inc. increased its position in Allegion by 9.9% during the first quarter. BlackRock Inc. now owns 7,585,468 shares of the scientific and technical instruments company’s stock worth $688,079,000 after acquiring an additional 685,215 shares during the period. Ardevora Asset Management LLP bought a new position in Allegion during the first quarter worth $34,796,000. AKO Capital LLP increased its position in Allegion by 20.5% during the first quarter. AKO Capital LLP now owns 1,754,663 shares of the scientific and technical instruments company’s stock worth $159,165,000 after acquiring an additional 299,089 shares during the period. FMR LLC increased its position in Allegion by 13.5% during the first quarter. FMR LLC now owns 1,815,943 shares of the scientific and technical instruments company’s stock worth $164,724,000 after acquiring an additional 215,361 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Allegion by 23.9% during the second quarter. JPMorgan Chase & Co. now owns 1,054,661 shares of the scientific and technical instruments company’s stock worth $114,715,000 after acquiring an additional 203,119 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

NYSE ALLE traded down $0.42 during trading on Friday, reaching $98.73. The company’s stock had a trading volume of 794,654 shares, compared to its average volume of 726,522. Allegion has a 1-year low of $74.83 and a 1-year high of $111.99. The company has a market capitalization of $9.18 billion, a PE ratio of 21.94, a PEG ratio of 1.74 and a beta of 1.15. The company has a quick ratio of 1.12, a current ratio of 1.71 and a debt-to-equity ratio of 2.10. The stock has a 50-day simple moving average of $107.13.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, July 25th. The scientific and technical instruments company reported $1.26 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.05). Allegion had a net margin of 15.65% and a return on equity of 68.47%. The firm had revenue of $731.20 million during the quarter, compared to the consensus estimate of $750.76 million. During the same period in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Allegion will post 4.84 earnings per share for the current year.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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Analyst Recommendations for Allegion (NYSE:ALLE)

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