Allegion’s (ALLE) “Market Perform” Rating Reaffirmed at William Blair

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

ALLE has been the subject of several other reports. Morgan Stanley reduced their price objective on Allegion from $134.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Credit Suisse Group reduced their price objective on Allegion from $142.00 to $134.00 and set a “neutral” rating for the company in a research note on Wednesday, February 16th. The Goldman Sachs Group reduced their price objective on Allegion from $153.00 to $137.00 and set a “buy” rating for the company in a research note on Thursday, April 7th. Barclays cut their price target on Allegion from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 4th. Finally, StockNews.com began coverage on Allegion in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Allegion has an average rating of “Buy” and a consensus price target of $142.40.

NYSE ALLE opened at $116.02 on Tuesday. The business’s fifty day moving average price is $112.73 and its 200-day moving average price is $122.58. The stock has a market capitalization 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 debt-to-equity ratio of 1.87, a current ratio of 1.86 and a quick ratio of 1.23. Allegion has a 1-year low of $105.06 and a 1-year high of $148.70.

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

Large investors have recently made changes to their positions in the stock. Bank of Nova Scotia lifted its holdings in shares of Allegion by 4,840.8% in the 3rd quarter. Bank of Nova Scotia now owns 116,256 shares of the scientific and technical instruments company’s stock valued at $15,366,000 after acquiring an additional 113,903 shares during the last quarter. AE Wealth Management LLC lifted its stake in Allegion by 5.5% in the fourth quarter. AE Wealth Management LLC now owns 2,707 shares of the scientific and technical instruments company’s stock worth $359,000 after purchasing an additional 141 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Allegion by 105.4% in the third quarter. Hsbc Holdings PLC now owns 35,043 shares of the scientific and technical instruments company’s stock worth $4,663,000 after purchasing an additional 17,979 shares during the last quarter. Van ECK Associates Corp lifted its stake in Allegion by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 10,862 shares of the scientific and technical instruments company’s stock worth $1,439,000 after purchasing an additional 1,234 shares during the last quarter. Finally, Intercontinental Wealth Advisors LLC lifted its stake in Allegion by 77.6% in the fourth quarter. Intercontinental Wealth Advisors LLC now owns 3,779 shares of the scientific and technical instruments company’s stock worth $500,000 after purchasing an additional 1,651 shares during the last quarter. 90.40% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Allegion (NYSE:ALLE)

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