Allegion (NYSE:ALLE) Raised to “Buy” at StockNews.com

Allegion (NYSE:ALLE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other equities analysts have also recently issued reports on ALLE. UBS Group lifted their target price on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Barclays cut Allegion from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $122.00 to $116.00 in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $126.83.

Allegion Price Performance

Allegion stock traded down $2.46 during midday trading on Monday, hitting $115.69. The company’s stock had a trading volume of 635,837 shares, compared to its average volume of 702,685. Allegion has a 12 month low of $95.94 and a 12 month high of $136.91. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average price is $121.03 and its 200-day moving average price is $125.36. The company has a market capitalization of $10.12 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 3.71 and a beta of 1.13.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $893.90 million during the quarter, compared to analyst estimates of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 earnings per share. Analysts anticipate that Allegion will post 7.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the transaction, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of institutional investors have recently bought and sold shares of ALLE. SRN Advisors LLC raised its stake in shares of Allegion by 5.1% during the 1st quarter. SRN Advisors LLC now owns 7,729 shares of the scientific and technical instruments company’s stock worth $1,041,000 after purchasing an additional 374 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Allegion by 5.2% in the first quarter. EverSource Wealth Advisors LLC now owns 3,543 shares of the scientific and technical instruments company’s stock worth $477,000 after buying an additional 174 shares during the last quarter. Boston Partners increased its holdings in Allegion by 1.5% in the first quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after buying an additional 72,773 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Allegion by 90.5% during the 1st quarter. Cetera Advisors LLC now owns 4,891 shares of the scientific and technical instruments company’s stock valued at $659,000 after purchasing an additional 2,324 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Allegion by 280.4% during the first quarter. Cetera Investment Advisers now owns 13,091 shares of the scientific and technical instruments company’s stock worth $1,763,000 after buying an additional 9,650 shares during 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.