Allegion (NYSE:ALLE) PT Raised to $152.00

Allegion (NYSE:ALLE) had its price objective hoisted by Wells Fargo & Company from $137.00 to $152.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.57% from the stock’s current price.

Other research analysts have also issued reports about the stock. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Barclays raised their price target on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus price target of $132.00.

Allegion Stock Performance

NYSE:ALLE opened at $145.36 on Monday. The firm’s fifty day simple moving average is $137.48 and its 200 day simple moving average is $128.67. The stock has a market cap of $12.71 billion, a P/E ratio of 23.71, a price-to-earnings-growth 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. Allegion has a twelve month low of $95.94 and a twelve month high of $147.12.

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

Institutional Trading of Allegion

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in Allegion by 132.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,982 shares of the scientific and technical instruments company’s stock valued at $1,645,000 after buying an additional 7,405 shares during the last quarter. Cibc World Markets Corp increased its stake in shares of Allegion by 133.2% during the 4th quarter. Cibc World Markets Corp now owns 11,298 shares of the scientific and technical instruments company’s stock worth $1,431,000 after purchasing an additional 6,453 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Allegion by 22.2% in the fourth quarter. Neuberger Berman Group LLC now owns 10,209 shares of the scientific and technical instruments company’s stock worth $1,293,000 after acquiring an additional 1,854 shares during the last quarter. Hawk Ridge Capital Management LP boosted its stake in shares of Allegion by 39.8% during the 4th quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock worth $90,301,000 after purchasing an additional 202,774 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in Allegion by 14.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,783 shares of the scientific and technical instruments company’s stock worth $353,000 after acquiring an additional 361 shares during the last quarter. Institutional investors and hedge funds 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.