Analysts at JPMorgan Chase & Co. started coverage on shares of Allegion (NYSE:ALLE – Get Free Report) in a research report issued on Tuesday, Marketbeat reports. The brokerage set an “overweight” rating and a $170.00 price target on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 19.01% from the company’s current price.
Other research analysts have also recently issued reports about the company. Wall Street Zen cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Robert W. Baird boosted 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. Finally, Barclays upped their price target on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and a consensus target price of $145.33.
Check Out Our Latest Research Report on ALLE
Allegion Price Performance
Allegion (NYSE:ALLE – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The firm had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. During the same period last year, the company earned $1.55 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts predict that Allegion will post 7.77 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Allegion
A number of institutional investors have recently added to or reduced their stakes in ALLE. Millstone Evans Group LLC bought a new stake in Allegion during the fourth quarter valued at about $28,000. Wayfinding Financial LLC bought a new stake in Allegion during the first quarter valued at about $30,000. Colonial Trust Co SC boosted its position in Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. Atala Financial Inc bought a new stake in Allegion during the fourth quarter valued at about $35,000. Finally, Garde Capital Inc. bought a new stake in Allegion during the first quarter valued at about $36,000. Institutional investors own 92.21% of the company’s stock.
About Allegion
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.
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