Allegion (NYSE:ALLE) Price Target Raised to $114.00

Allegion (NYSE:ALLE) had its price objective hoisted by Barclays from $105.00 to $114.00 in a research report released on Tuesday morning, AnalystRatings.com reports. Barclays currently has an overweight rating on the scientific and technical instruments company’s stock.

Several other equities analysts also recently weighed in on ALLE. Credit Suisse Group reissued a hold rating on shares of FactSet Research Systems in a research note on Monday. Bank of America set a $10.00 price target on shares of HEXO and gave the stock a buy rating in a research note on Thursday, June 13th. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Morgan Stanley set a $10.00 price target on shares of Ford Motor and gave the stock a hold rating in a research note on Friday, April 26th. Finally, Imperial Capital downgraded shares of Lionsgate to an in-line rating and decreased their price target for the stock from $24.00 to $16.00 in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $103.50.

ALLE opened at $109.27 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.14 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $10.27 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.95 and a beta of 1.18. Allegion has a 52-week low of $74.83 and a 52-week high of $111.99. The firm’s fifty day moving average is $105.20.



Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The firm had revenue of $655.00 million for the quarter, compared to the consensus estimate of $654.66 million. Allegion had a net margin of 15.97% and a return on equity of 72.88%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share. As a group, sell-side analysts expect that Allegion will post 4.85 earnings per share for the current fiscal year.

In related news, CAO Douglas P. Ranck sold 3,036 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $104.64, for a total transaction of $317,687.04. Following the completion of the sale, the chief accounting officer now directly owns 5,442 shares in the company, valued at $569,450.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffrey N. Braun sold 6,218 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $104.44, for a total transaction of $649,407.92. Following the sale, the senior vice president now owns 13,394 shares of the company’s stock, valued at $1,398,869.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,611 shares of company stock worth $1,498,349. Insiders own 0.77% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ALLE. Wealthcare Advisory Partners LLC acquired a new stake in Allegion during the first quarter worth about $26,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Allegion during the first quarter valued at about $56,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Allegion during the fourth quarter valued at about $94,000. Starr International Co. Inc. acquired a new stake in shares of Allegion during the first quarter valued at about $126,000. Finally, Parallel Advisors LLC increased its position in shares of Allegion by 214.1% during the first quarter. Parallel Advisors LLC now owns 1,690 shares of the scientific and technical instruments company’s stock valued at $153,000 after acquiring an additional 1,152 shares during the last quarter. Hedge funds and other institutional investors own 93.47% of the company’s stock.

About Allegion

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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