Barclays Forecasts Strong Price Appreciation for Allegion (NYSE:ALLE) Stock

Allegion (NYSE:ALLE) had its price target increased by investment analysts at Barclays from $128.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective would suggest a potential downside of 10.91% from the company’s previous close.

Several other research analysts also recently issued reports on ALLE. The Goldman Sachs Group upped their price objective on Allegion from $149.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. started coverage on Allegion in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price objective for the company. Finally, Robert W. Baird upped their price objective on Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $149.86.

Allegion Stock Up 1.0%

ALLE stock opened at $151.54 on Wednesday. The stock has a market capitalization of $13.04 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 3.79 and a beta of 1.01. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23. Allegion has a 12 month low of $116.57 and a 12 month high of $156.10. The firm has a 50-day moving average price of $142.15 and a 200-day moving average price of $133.77.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to analysts’ expectations of $918.53 million. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, equities research analysts anticipate that Allegion will post 7.77 EPS for the current fiscal year.

Institutional Trading of Allegion

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in shares of Allegion during the 2nd quarter worth approximately $479,000. Fulton Bank N.A. bought a new position in shares of Allegion during the 2nd quarter worth approximately $211,000. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Allegion by 6.1% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 15,681 shares of the scientific and technical instruments company’s stock worth $2,260,000 after buying an additional 900 shares in the last quarter. Swedbank AB boosted its holdings in shares of Allegion by 6.7% during the 2nd quarter. Swedbank AB now owns 76,580 shares of the scientific and technical instruments company’s stock worth $11,037,000 after buying an additional 4,840 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Allegion by 30.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,821 shares of the scientific and technical instruments company’s stock worth $1,704,000 after buying an additional 2,750 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Company Profile

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