Barclays Issues Pessimistic Forecast for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its price objective lowered by research analysts at Barclays from $134.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s target price would suggest a potential upside of 3.23% from the stock’s current price.

A number of other analysts also recently issued reports on ALLE. Wells Fargo & Company reduced their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Morgan Stanley started coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target for the company. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, Allegion has an average rating of “Hold” and a consensus price target of $138.83.

Allegion Stock Down 5.6 %

ALLE stock opened at $125.94 on Wednesday. The business’s 50-day moving average price is $132.14 and its 200-day moving average price is $137.42. The stock has a market cap of $10.95 billion, a P/E ratio of 19.35, a PEG ratio of 3.29 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. On average, equities research analysts forecast that Allegion will post 7.42 EPS for the current year.

Insider Transactions at Allegion

In other news, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. Exchange Traded Concepts LLC bought a new position in shares of Allegion during the third quarter valued at approximately $94,000. Creative Planning boosted its holdings in Allegion by 9.1% during the 3rd quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock valued at $1,729,000 after acquiring an additional 988 shares during the period. Bleakley Financial Group LLC purchased a new position in Allegion during the 3rd quarter valued at $205,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Allegion by 4.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock valued at $1,260,000 after acquiring an additional 340 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Allegion by 44.9% in the third quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company’s stock worth $73,000 after purchasing an additional 155 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.