Evercore Upgrades Allegion (NYSE:ALLE) to “Strong-Buy”

Allegion (NYSE:ALLE) was upgraded by Evercore to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Wells Fargo & Company lowered their target price on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Barclays lowered their target price on shares of Allegion from $176.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average price target of $171.13.

Allegion Stock Performance

Shares of Allegion stock opened at $146.97 on Monday. The firm has a market capitalization of $12.66 billion, a P/E ratio of 19.75, a P/E/G ratio of 3.19 and a beta of 1.02. Allegion has a 52 week low of $122.14 and a 52 week high of $183.11. The company has a quick ratio of 1.16, a current ratio of 1.84 and a debt-to-equity ratio of 0.96. The firm’s 50 day moving average is $154.71 and its two-hundred day moving average is $162.08.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.07). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Allegion had a net margin of 15.83% and a return on equity of 38.06%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Research analysts forecast that Allegion will post 7.77 EPS for the current fiscal year.

Insider Buying and Selling at Allegion

In related news, Director Steven Mizell sold 1,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the sale, the director directly owned 4,915 shares of the company’s stock, valued at $793,821.65. This trade represents a 16.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sue Main purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $149.61 per share, with a total value of $299,220.00. Following the completion of the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $299,220. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegion

Several hedge funds have recently modified their holdings of ALLE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Allegion by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company’s stock worth $1,251,000 after purchasing an additional 626 shares during the period. NewEdge Advisors LLC lifted its holdings in Allegion by 35.3% in the first quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company’s stock valued at $427,000 after acquiring an additional 854 shares during the period. Jones Financial Companies Lllp lifted its holdings in Allegion by 44.2% in the first quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company’s stock valued at $213,000 after acquiring an additional 499 shares during the period. Empowered Funds LLC lifted its holdings in Allegion by 13.0% in the first quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company’s stock valued at $740,000 after acquiring an additional 651 shares during the period. Finally, Focus Partners Wealth lifted its holdings in Allegion by 204.5% in the first quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company’s stock valued at $937,000 after acquiring an additional 4,826 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

About Allegion

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.