Wells Fargo & Company Has Lowered Expectations for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its price target dropped by equities researchers at Wells Fargo & Company from $175.00 to $155.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 9.80% from the stock’s current price.

A number of other equities analysts have also commented on the company. Barclays cut their price target on Allegion from $180.00 to $176.00 and set an “equal weight” rating for the company in a report on Monday, February 23rd. JPMorgan Chase & Co. decreased their price objective on Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average price target of $171.13.

Allegion Stock Performance

NYSE ALLE opened at $141.16 on Wednesday. The company’s 50 day moving average is $158.27 and its 200-day moving average is $164.11. Allegion has a 12-month low of $116.57 and a 12-month high of $183.11. The company has a quick ratio of 1.16, a current ratio of 1.84 and a debt-to-equity ratio of 0.96. The firm has a market cap of $12.16 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 3.12 and a beta of 1.02.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.07). Allegion had a return on equity of 38.06% and a net margin of 15.83%.The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted $1.86 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Sell-side analysts predict that Allegion will post 7.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Steven Mizell sold 1,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $161.51, for a total transaction of $161,510.00. Following the completion of the transaction, the director directly owned 4,915 shares in the company, valued at $793,821.65. The trade was a 16.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sue Main purchased 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $299,220. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

A number of institutional investors have recently added to or reduced their stakes in ALLE. Forvis Mazars Wealth Advisors LLC purchased a new stake in shares of Allegion during the third quarter worth about $2,838,000. Burney Co. purchased a new position in Allegion during the 3rd quarter valued at about $9,297,000. Fusion Capital LLC bought a new position in Allegion during the 3rd quarter valued at approximately $4,406,000. Berkshire Hathaway Inc bought a new position in Allegion during the 2nd quarter valued at approximately $112,433,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Allegion by 5.1% in 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 buying an additional 113,821 shares during the period. 92.21% of the stock is currently owned by institutional investors.

About Allegion

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.