StockNews.com Upgrades Allegion (NYSE:ALLE) to Buy

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

Several other equities analysts have also recently commented on the stock. Barclays cut shares of Allegion from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $122.00 to $116.00 in a research report on Tuesday, June 4th. UBS Group lifted their price target on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $126.83.

Allegion Price Performance

ALLE stock opened at $116.06 on Monday. Allegion has a 52-week low of $95.94 and a 52-week high of $136.91. The business has a fifty day moving average of $120.81 and a two-hundred day moving average of $125.35. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 3.71 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share 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 the consensus estimate of $888.27 million. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 EPS. As a group, research analysts anticipate that Allegion will post 7.09 earnings per share for the current year.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the transaction, the senior vice president now owns 11,103 shares in the company, valued at $1,354,343.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegion

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC bought a new stake in Allegion in the fourth quarter valued at $28,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Allegion by 19.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 3,823 shares in the last quarter. Ancora Advisors LLC boosted its holdings in shares of Allegion by 153.3% during the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 230 shares in the last quarter. Covestor Ltd raised its position in shares of Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 225 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new position in shares of Allegion in the 1st quarter worth about $44,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.