Allegion PLC (NYSE:ALLE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, November 2nd.
According to Zacks, “Allegion’s third-quarter 2017 earnings were in line with the Zacks Consensus Estimate while revenues missed the consensus mark by 1.5%. Adjusted earnings were however up 9.7% from the prior-year quarter. Quarterly net revenues increased 4.9% on a year-over-year basis on the back of continued organic growth, synergies from acquisitions and favorable foreign currency impact. Revenues were also up 2.7% on an organic basis. Adjusted operating margin was up 30 basis points year over year owing to solid price performance, volume leverage and productivity, which offset impact from unfavorable product mix, increased investments and inflation. Adjusted EBITDA margin was however down 20 basis points. Moreover, global currency fluctuations are a major headwind.”
Other equities research analysts also recently issued research reports about the stock. Robert W. Baird set a $85.00 target price on shares of Allegion PLC and gave the company a “hold” rating in a research note on Thursday, August 24th. BidaskClub raised shares of Allegion PLC from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Wolfe Research initiated coverage on shares of Allegion PLC in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $100.00 price target (up from $90.00) on shares of Allegion PLC in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $89.75.
Allegion PLC (NYSE:ALLE) traded up $0.16 during mid-day trading on Thursday, reaching $83.40. 456,258 shares of the company’s stock traded hands, compared to its average volume of 689,114. Allegion PLC has a fifty-two week low of $63.71 and a fifty-two week high of $89.81. The company has a quick ratio of 1.54, a current ratio of 2.14 and a debt-to-equity ratio of 3.79. The company has a market capitalization of $7,910.00, a price-to-earnings ratio of 22.52, a P/E/G ratio of 1.55 and a beta of 1.10.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.02. Allegion PLC had a net margin of 14.37% and a return on equity of 154.50%. The business had revenue of $609.40 million for the quarter, compared to the consensus estimate of $622.18 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. research analysts anticipate that Allegion PLC will post 3.79 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in ALLE. Tredje AP fonden acquired a new position in Allegion PLC in the second quarter valued at about $105,000. QS Investors LLC increased its stake in Allegion PLC by 1.2% during the second quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after purchasing an additional 16 shares during the period. Whittier Trust Co. increased its stake in Allegion PLC by 94.2% during the third quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 600 shares during the period. YorkBridge Wealth Partners LLC purchased a new stake in Allegion PLC during the third quarter worth about $107,000. Finally, Acrospire Investment Management LLC increased its stake in Allegion PLC by 75.0% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock worth $114,000 after purchasing an additional 600 shares during the period. 90.95% of the stock is currently owned by hedge funds and other institutional investors.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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