Wells Fargo & Company Lowers Allegion (NYSE:ALLE) Price Target to $175.00

Allegion (NYSE:ALLE) had its target price lowered by equities researchers at Wells Fargo & Company from $185.00 to $175.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 8.83% from the company’s previous close.

Several other research firms have also commented on ALLE. The Goldman Sachs Group lifted their price target on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Barclays increased their price objective on Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Zacks Research downgraded Allegion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Finally, Robert W. Baird upped their price objective on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $175.13.

Allegion Stock Performance

NYSE:ALLE opened at $160.80 on Tuesday. Allegion has a 12 month low of $116.57 and a 12 month high of $180.68. The firm has a market capitalization of $13.83 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11. The business’s fifty day moving average price is $166.49 and its 200 day moving average price is $162.28.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.09. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, sell-side analysts anticipate that Allegion will post 7.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALLE. Kayne Anderson Rudnick Investment Management LLC grew its stake in Allegion by 22.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company’s stock valued at $623,104,000 after purchasing an additional 878,796 shares in the last quarter. Boston Partners boosted its stake in shares of Allegion by 1.0% during the 3rd quarter. Boston Partners now owns 4,746,454 shares of the scientific and technical instruments company’s stock valued at $842,026,000 after buying an additional 48,199 shares during the last quarter. State Street Corp grew its position in shares of Allegion by 6.6% during the third quarter. State Street Corp now owns 4,232,208 shares of the scientific and technical instruments company’s stock worth $750,584,000 after buying an additional 260,973 shares in the last quarter. Geode Capital Management LLC boosted its stake in Allegion by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after acquiring an additional 339,025 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Allegion by 5.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company’s stock worth $417,991,000 after acquiring an additional 113,821 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Company Profile

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.