Allegion (NYSE:ALLE) Stock Rating Reaffirmed by William Blair

Allegion (NYSE:ALLE – Get Rating)‘s stock had its “market perform” rating restated by equities research analysts at William Blair in a note issued to investors on Tuesday, Zacks.com reports. William Blair also issued estimates for Allegion’s Q3 2022 earnings at $1.63 EPS.

Other equities analysts have also issued reports about the stock. StockNews.com initiated coverage on shares of Allegion in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group decreased their target price on shares of Allegion from $142.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 16th. Morgan Stanley decreased their target price on shares of Allegion from $134.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. Mizuho decreased their price objective on shares of Allegion from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. Finally, Barclays decreased their price objective on shares of Allegion from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Allegion currently has an average rating of “Buy” and an average price target of $142.40.

ALLE stock opened at $116.02 on Tuesday. The company has a fifty day moving average price of $112.73 and a 200 day moving average price of $122.58. Allegion has a 12 month low of $105.06 and a 12 month high of $148.70. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.86 and a quick ratio of 1.23. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13.

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

Several hedge funds and other institutional investors have recently bought and sold shares of ALLE. Nordea Investment Management AB acquired a new position in shares of Allegion during the 1st quarter valued at about $168,938,000. FIL Ltd acquired a new stake in Allegion during the 3rd quarter worth approximately $138,829,000. Norges Bank acquired a new stake in Allegion during the 4th quarter worth approximately $104,498,000. BlackRock Inc. increased its position in 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 purchasing an additional 431,267 shares in the last quarter. Finally, Tesco Pension Investment Ltd increased its position in 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 purchasing an additional 364,694 shares in the last quarter. 90.40% of the stock is owned by institutional investors.

Allegion Company Profile (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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