Equities research analysts expect Allegion PLC (NYSE:ALLE) to announce $609.65 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Allegion’s earnings, with the highest sales estimate coming in at $610.30 million and the lowest estimate coming in at $609.00 million. Allegion reported sales of $569.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, February 20th.
On average, analysts expect that Allegion will report full-year sales of $609.65 million for the current fiscal year, with estimates ranging from $2.39 billion to $2.40 billion. For the next financial year, analysts expect that the company will post sales of $2.54 billion per share. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Allegion.
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Co restated an “outperform” rating and issued a $100.00 target price (up previously from $90.00) on shares of Allegion in a report on Wednesday, October 18th. BidaskClub lowered shares of Allegion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Wolfe Research upgraded shares of Allegion from a “market perform” rating to an “outperform” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $89.75.
Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Allegion by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,738,702 shares of the scientific and technical instruments company’s stock worth $492,149,000 after acquiring an additional 390,699 shares during the last quarter. State Street Corp lifted its holdings in shares of Allegion by 2.9% in the 2nd quarter. State Street Corp now owns 5,207,209 shares of the scientific and technical instruments company’s stock worth $422,400,000 after acquiring an additional 146,138 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Allegion by 17.7% in the 4th quarter. American Century Companies Inc. now owns 2,227,299 shares of the scientific and technical instruments company’s stock worth $177,204,000 after acquiring an additional 334,751 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Allegion by 9.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,441,644 shares of the scientific and technical instruments company’s stock worth $124,659,000 after acquiring an additional 127,306 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Allegion by 2.9% in the 3rd quarter. Bessemer Group Inc. now owns 1,374,177 shares of the scientific and technical instruments company’s stock worth $118,825,000 after acquiring an additional 39,160 shares during the last quarter. Hedge funds and other institutional investors own 89.54% of the company’s stock.
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Allegion 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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