Allegion (NYSE:ALLE) PT Raised to $130.00

Allegion (NYSE:ALLEGet Rating) had its price objective raised by equities research analysts at Wells Fargo & Company from $121.00 to $130.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 16.80% from the company’s current price.

ALLE has been the topic of several other research reports. Morgan Stanley boosted their target price on Allegion from $107.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, January 6th. Mizuho boosted their target price on Allegion from $114.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, January 13th. TheStreet raised Allegion from a “c+” rating to a “b-” rating in a research report on Wednesday, November 23rd. Barclays boosted their target price on Allegion from $127.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. Finally, Vertical Research raised Allegion from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $119.22.

Allegion Stock Up 2.8 %

NYSE ALLE opened at $111.30 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.10 and a debt-to-equity ratio of 2.79. Allegion has a 12 month low of $87.33 and a 12 month high of $125.39. The stock’s 50 day moving average is $110.01 and its 200 day moving average is $102.69. The stock has a market cap of $9.78 billion, a PE ratio of 22.67, a P/E/G ratio of 2.68 and a beta of 1.08.

Allegion (NYSE:ALLEGet Rating) last released its quarterly earnings data on Thursday, October 27th. The scientific and technical instruments company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.19. Allegion had a return on equity of 59.82% and a net margin of 13.96%. The business had revenue of $913.70 million for the quarter, compared to the consensus estimate of $873.58 million. During the same quarter in the previous year, the company posted $1.56 EPS. The company’s revenue was up 27.4% compared to the same quarter last year. Research analysts predict that Allegion will post 5.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John H. Stone bought 12,500 shares of the stock in a transaction on Friday, October 28th. The stock was acquired at an average cost of $104.45 per share, for a total transaction of $1,305,625.00. Following the acquisition, the chief executive officer now owns 64,535 shares of the company’s stock, valued at $6,740,680.75. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Allegion

A number of hedge funds have recently made changes to their positions in ALLE. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Allegion by 27.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,068 shares of the scientific and technical instruments company’s stock worth $996,000 after purchasing an additional 1,944 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Allegion by 11.8% during the 1st quarter. American Century Companies Inc. now owns 5,825 shares of the scientific and technical instruments company’s stock worth $639,000 after purchasing an additional 614 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Allegion by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 6,947 shares of the scientific and technical instruments company’s stock worth $759,000 after purchasing an additional 510 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Allegion by 35.2% during the 1st quarter. Private Advisor Group LLC now owns 2,090 shares of the scientific and technical instruments company’s stock worth $229,000 after purchasing an additional 544 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Allegion by 88.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,336 shares of the scientific and technical instruments company’s stock valued at $366,000 after buying an additional 1,564 shares during the last quarter. 92.78% of the stock is currently 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.

Featured Articles

Analyst Recommendations for Allegion (NYSE:ALLE)

Receive News & Ratings for Allegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion and related companies with MarketBeat.com's FREE daily email newsletter.