Allegion PLC (ALLE) Given Average Recommendation of “Buy” by Analysts
Allegion PLC (NYSE:ALLE) has received a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $86.00.
ALLE has been the subject of a number of research reports. BidaskClub upgraded Allegion PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Wolfe Research initiated coverage on Allegion PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research downgraded Allegion PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Credit Suisse Group AG restated a “buy” rating and issued a $89.00 target price on shares of Allegion PLC in a research note on Friday, April 28th. Finally, Robert W. Baird downgraded Allegion PLC from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $85.00 in a research note on Friday, April 28th.
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In other news, insider Todd V. Graves sold 1,858 shares of Allegion PLC stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $79.19, for a total transaction of $147,135.02. Following the sale, the insider now owns 12,084 shares of the company’s stock, valued at $956,931.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Timothy P. Eckersley sold 12,782 shares of Allegion PLC stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ALLE. AQR Capital Management LLC boosted its stake in Allegion PLC by 3.8% in the fourth quarter. AQR Capital Management LLC now owns 9,685 shares of the scientific and technical instruments company’s stock worth $620,000 after buying an additional 359 shares during the period. Teachers Advisors LLC boosted its stake in Allegion PLC by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 251,432 shares of the scientific and technical instruments company’s stock worth $16,092,000 after buying an additional 5,619 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in Allegion PLC by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 83,393 shares of the scientific and technical instruments company’s stock worth $6,313,000 after buying an additional 2,170 shares during the period. Creative Planning boosted its stake in Allegion PLC by 10.9% in the first quarter. Creative Planning now owns 2,080 shares of the scientific and technical instruments company’s stock worth $157,000 after buying an additional 205 shares during the period. Finally, Bank of Montreal Can boosted its stake in Allegion PLC by 2.5% in the first quarter. Bank of Montreal Can now owns 23,032 shares of the scientific and technical instruments company’s stock worth $1,743,000 after buying an additional 571 shares during the period. 93.60% of the stock is currently owned by institutional investors.
Allegion PLC (NYSE ALLE) traded down 0.65% on Tuesday, hitting $78.95. The stock had a trading volume of 271,390 shares. Allegion PLC has a one year low of $61.47 and a one year high of $82.90. The stock has a market cap of $7.50 billion, a P/E ratio of 30.54 and a beta of 1.10. The company’s 50-day moving average is $80.79 and its 200-day moving average is $76.93.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.11. The business had revenue of $627 million during the quarter, compared to the consensus estimate of $613.37 million. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. On average, analysts anticipate that Allegion PLC will post $3.78 earnings per share for the current fiscal year.
About Allegion PLC
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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