Stock analysts at Atlantic Securities initiated coverage on shares of Allegion (NYSE:ALLE) in a note issued to investors on Monday, The Fly reports. The firm set an “overweight” rating on the scientific and technical instruments company’s stock.
Several other equities analysts have also recently commented on the stock. The Goldman Sachs Group raised shares of Allegion from a “neutral” rating to a “buy” rating and raised their price target for the company from $158.00 to $174.00 in a research report on Friday, September 10th. Morgan Stanley lifted their price objective on shares of Allegion from $137.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Friday, October 22nd. Barclays decreased their price objective on shares of Allegion from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, October 4th. Zacks Investment Research raised shares of Allegion from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a research report on Monday, August 30th. Finally, Wells Fargo & Company started coverage on shares of Allegion in a research report on Thursday, October 7th. They set an “overweight” rating and a $159.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $155.71.
Shares of ALLE stock opened at $129.37 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 1.37. Allegion has a 52 week low of $106.52 and a 52 week high of $148.70. The stock has a market capitalization of $11.60 billion, a PE ratio of 25.42, a P/E/G ratio of 3.74 and a beta of 1.13. The firm has a 50 day moving average of $132.56 and a two-hundred day moving average of $136.89.
Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, October 20th. The scientific and technical instruments company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.27. Allegion had a net margin of 16.06% and a return on equity of 62.97%. The company had revenue of $717.00 million during the quarter, compared to analysts’ expectations of $703.29 million. During the same quarter last year, the company posted $1.67 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Analysts expect that Allegion will post 5.08 EPS for the current fiscal year.
In other Allegion news, CFO Patrick S. Shannon sold 3,826 shares of Allegion stock in a transaction on Monday, October 25th. The shares were sold at an average price of $131.50, for a total value of $503,119.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David D. Petratis sold 2,841 shares of Allegion stock in a transaction on Monday, September 27th. The shares were sold at an average price of $137.54, for a total transaction of $390,751.14. The disclosure for this sale can be found here. Insiders have sold a total of 14,008 shares of company stock worth $1,883,020 over the last quarter. 0.67% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ALLE. Canada Pension Plan Investment Board increased its stake in Allegion by 1,720.0% in the second quarter. Canada Pension Plan Investment Board now owns 182 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 172 shares during the period. KB Financial Partners LLC boosted its holdings in shares of Allegion by 174.4% in the second quarter. KB Financial Partners LLC now owns 225 shares of the scientific and technical instruments company’s stock valued at $31,000 after acquiring an additional 143 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Allegion by 310.3% in the second quarter. Arkadios Wealth Advisors now owns 238 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Allegion in the second quarter valued at about $41,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Allegion in the second quarter valued at about $46,000. Institutional investors own 84.65% of the company’s stock.
About Allegion
Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.