Allegion (NYSE:ALLE) Price Target Raised to $137.00 at Barclays

Allegion (NYSE:ALLE) had its target price hoisted by research analysts at Barclays from $135.00 to $137.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective would suggest a potential downside of 1.99% from the company’s current price.

Several other equities analysts have also issued reports on ALLE. Wells Fargo & Company lifted their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Robert W. Baird upped their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Mizuho boosted their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus price target of $144.60.

Allegion Trading Down 1.8 %

ALLE opened at $139.78 on Monday. 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 stock’s fifty day moving average is $142.53 and its two-hundred day moving average is $130.25. The company has a market capitalization of $12.22 billion, a P/E ratio of 22.85, a PEG ratio of 4.50 and a beta of 1.12. Allegion has a 52 week low of $95.97 and a 52 week high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share. Analysts forecast that Allegion will post 7.26 earnings per share for the current year.

Insider Activity

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC purchased a new stake in Allegion in the 3rd quarter worth approximately $221,000. Robeco Institutional Asset Management B.V. boosted its holdings in Allegion by 83.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 26,952 shares of the scientific and technical instruments company’s stock worth $3,928,000 after buying an additional 12,226 shares in the last quarter. Van ECK Associates Corp grew its position in Allegion by 1.3% during the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after buying an additional 39,905 shares during the period. Janney Montgomery Scott LLC increased its holdings in Allegion by 3.5% in the third quarter. Janney Montgomery Scott LLC now owns 68,046 shares of the scientific and technical instruments company’s stock valued at $9,917,000 after buying an additional 2,318 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in shares of Allegion in the third quarter worth about $225,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.