Allegion (NYSE:ALLE) Earns “Market Perform” Rating from William Blair

William Blair restated their market perform rating on shares of Allegion (NYSE:ALLEGet Rating) in a research note issued to investors on Tuesday morning, Zacks.com reports. William Blair also issued estimates for Allegion’s Q3 2022 earnings at $1.63 EPS.

Several other research analysts have also commented on ALLE. The Goldman Sachs Group dropped their price target on shares of Allegion from $153.00 to $137.00 and set a buy rating on the stock in a research note on Thursday, April 7th. Robert W. Baird dropped their price target on shares of Allegion from $140.00 to $135.00 in a research note on Wednesday, April 20th. Morgan Stanley dropped their price target on shares of Allegion from $134.00 to $130.00 and set an equal weight rating on the stock in a research note on Thursday, April 7th. Wells Fargo & Company dropped their price target on shares of Allegion from $157.00 to $147.00 and set an overweight rating on the stock in a research note on Wednesday, February 16th. Finally, Mizuho dropped their price target on shares of Allegion from $170.00 to $145.00 and set a buy rating on the stock in a research note on Wednesday, February 16th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $142.40.

ALLE stock opened at $116.02 on Tuesday. Allegion has a 12-month low of $105.06 and a 12-month high of $148.70. The company has a quick ratio of 1.23, a current ratio of 1.86 and a debt-to-equity ratio of 1.87. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.21 and a beta of 1.13. The company has a 50 day moving average of $112.73 and a two-hundred day moving average of $122.58.

Allegion (NYSE:ALLEGet Rating) last released its earnings results on Tuesday, April 26th. The scientific and technical instruments company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Allegion had a net margin of 16.84% and a return on equity of 59.62%. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $709.67 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Allegion will post 5.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 1.41%. Allegion’s payout ratio is presently 30.71%.

A number of institutional investors have recently modified their holdings of ALLE. Nordea Investment Management AB bought a new stake in Allegion in the 1st quarter valued at $168,938,000. FIL Ltd bought a new stake in Allegion in the 3rd quarter valued at $138,829,000. Norges Bank bought a new stake in Allegion in the 4th quarter valued at $104,498,000. BlackRock Inc. lifted its holdings in shares of Allegion by 5.3% during the 3rd quarter. BlackRock Inc. now owns 8,596,251 shares of the scientific and technical instruments company’s stock worth $1,136,251,000 after acquiring an additional 431,267 shares during the period. Finally, Tesco Pension Investment Ltd lifted its holdings in shares of Allegion by 44.6% during the 4th quarter. Tesco Pension Investment Ltd now owns 1,181,762 shares of the scientific and technical instruments company’s stock worth $156,513,000 after acquiring an additional 364,694 shares during the period. 90.40% of the stock is owned by hedge funds and other institutional investors.

About Allegion (Get Rating)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.

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Analyst Recommendations for Allegion (NYSE:ALLE)

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