Allegion (NYSE:ALLE) Price Target Raised to $135.00 at Barclays

Allegion (NYSE:ALLE) had its price objective hoisted by research analysts at Barclays from $117.00 to $135.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price target indicates a potential downside of 7.46% from the company’s previous close.

A number of other brokerages have also weighed in on ALLE. Wells Fargo & Company lifted their price objective on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Allegion has a consensus rating of “Hold” and an average price target of $129.00.

Allegion Stock Up 0.0 %

Shares of NYSE ALLE opened at $145.89 on Wednesday. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 4.38 and a beta of 1.12. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The firm’s fifty day moving average is $137.02 and its 200 day moving average is $128.49. Allegion has a 52 week low of $95.94 and a 52 week high of $146.76.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 earnings per share. On average, equities research analysts expect that Allegion will post 7.26 earnings per share for the current year.

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLE. Norden Group LLC purchased a new stake in shares of Allegion in the first quarter worth $2,271,000. BNP Paribas Financial Markets raised its holdings in Allegion by 90.7% in the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock worth $16,380,000 after buying an additional 57,832 shares during the last quarter. Morningstar Investment Services LLC lifted its stake in shares of Allegion by 107.6% in the fourth quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock worth $27,717,000 after buying an additional 113,227 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Allegion by 18.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 66,701 shares of the scientific and technical instruments company’s stock valued at $8,450,000 after buying an additional 10,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Allegion by 5.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock valued at $29,074,000 after buying an additional 10,896 shares during the last quarter. Hedge funds and other 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.