StockNews.com Upgrades Allegion (NYSE:ALLE) to Buy

StockNews.com upgraded shares of Allegion (NYSE:ALLE) from a hold rating to a buy rating in a report published on Saturday morning.

A number of other brokerages have also recently issued reports on ALLE. UBS Group lifted their price objective on shares of Allegion from $113.00 to $132.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Barclays lifted their price objective on shares of Allegion from $112.00 to $117.00 and gave the company an underweight rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Allegion from $125.00 to $137.00 and gave the company an equal weight rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $125.40.

Allegion Trading Up 0.7 %

ALLE opened at $137.66 on Friday. Allegion has a 1-year low of $95.94 and a 1-year high of $138.68. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The company has a market cap of $11.99 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 4.22 and a beta of 1.13. The company has a fifty day moving average price of $120.55 and a two-hundred day moving average price of $125.38.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. During the same period in the previous year, the firm posted $1.76 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Analysts predict that Allegion will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the sale, the senior vice president now owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several hedge funds and other institutional investors have recently modified their holdings of ALLE. Crewe Advisors LLC increased its holdings in Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 149 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Allegion by 19.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 3,823 shares in the last quarter. Gradient Investments LLC purchased a new position in Allegion in the 2nd quarter worth approximately $38,000. Blue Trust Inc. grew its stake in Allegion by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares in the last quarter. Finally, Covestor Ltd grew its stake in Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 225 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

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