Allegion PLC (ALLE) Rating Lowered to Hold at BidaskClub
Allegion PLC (NYSE:ALLE) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other brokerages have also commented on ALLE. Robert W. Baird set a $85.00 price target on Allegion PLC and gave the company a “hold” rating in a research note on Thursday, August 24th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $90.00) on shares of Allegion PLC in a research note on Wednesday, October 18th. Finally, Wolfe Research started coverage on Allegion PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Allegion PLC presently has a consensus rating of “Buy” and a consensus price target of $89.75.
Allegion PLC (ALLE) traded down 0.51% on Friday, hitting $80.29. 1,919,711 shares of the company were exchanged. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $89.81. The stock has a market capitalization of $7.63 billion, a P/E ratio of 31.06 and a beta of 1.13. The stock’s 50-day moving average price is $85.34 and its 200-day moving average price is $80.78.
Allegion PLC (NYSE:ALLE) last issued its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.02. The company had revenue of $609.40 million during the quarter, compared to analysts’ expectations of $622.18 million. Allegion PLC had a return on equity of 154.50% and a net margin of 14.37%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 EPS. On average, equities research analysts anticipate that Allegion PLC will post $3.79 earnings per share for the current fiscal year.
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In other news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC acquired a new position in Allegion PLC during the 3rd quarter worth about $107,000. Crossmark Global Holdings Inc. acquired a new position in Allegion PLC during the 3rd quarter worth about $613,000. Sumitomo Mitsui Asset Management Company LTD lifted its stake in Allegion PLC by 115.3% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,521 shares of the scientific and technical instruments company’s stock worth $1,342,000 after acquiring an additional 8,311 shares in the last quarter. Calamos Advisors LLC lifted its stake in Allegion PLC by 6.2% during the 3rd quarter. Calamos Advisors LLC now owns 86,098 shares of the scientific and technical instruments company’s stock worth $7,445,000 after acquiring an additional 5,027 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in Allegion PLC by 13.0% during the 3rd quarter. Aperio Group LLC now owns 35,697 shares of the scientific and technical instruments company’s stock worth $3,087,000 after acquiring an additional 4,104 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.
Allegion PLC Company Profile
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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