Allegion PLC (NYSE:ALLE) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
A number of other analysts have also recently commented on the company. Zacks Investment Research cut Allegion PLC from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Robert W. Baird set a $85.00 price target on Allegion PLC and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, Wolfe Research started coverage on Allegion PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $86.00.
Allegion PLC (NYSE ALLE) opened at 84.55 on Friday. The stock’s 50 day moving average price is $79.89 and its 200-day moving average price is $78.54. Allegion PLC has a 12-month low of $61.47 and a 12-month high of $84.64. The firm has a market cap of $8.03 billion, a PE ratio of 32.71 and a beta of 1.10.
Allegion PLC (NYSE:ALLE) last issued its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $613.37 million. During the same period in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Allegion PLC will post $3.78 earnings per share for the current fiscal year.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.64% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ALLE. Suntrust Banks Inc. bought a new position in Allegion PLC in the 1st quarter valued at approximately $208,000. LS Investment Advisors LLC lifted its position in Allegion PLC by 12.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,885 shares of the scientific and technical instruments company’s stock valued at $218,000 after acquiring an additional 326 shares in the last quarter. Karp Capital Management Corp bought a new position in Allegion PLC in the 1st quarter valued at approximately $2,163,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Allegion PLC by 28.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,082 shares of the scientific and technical instruments company’s stock valued at $536,000 after acquiring an additional 1,585 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Allegion PLC by 12.6% in the 1st quarter. Ameriprise Financial Inc. now owns 122,139 shares of the scientific and technical instruments company’s stock valued at $9,246,000 after acquiring an additional 13,687 shares in the last quarter. 89.86% of the stock is currently owned by institutional investors and hedge funds.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric 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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