Allegion (NYSE:ALLE) Rating Lowered to “Hold” at StockNews.com

Allegion (NYSE:ALLE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other analysts also recently weighed in on ALLE. Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. Robert W. Baird lifted their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company decreased their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays decreased their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.83.

Allegion Price Performance

Shares of Allegion stock opened at $132.56 on Thursday. The stock has a market capitalization of $11.52 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 3.26 and a beta of 1.11. Allegion has a one year low of $113.27 and a one year high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The business’s 50 day simple moving average is $135.09 and its two-hundred day simple moving average is $136.89.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 earnings per share. Analysts forecast that Allegion will post 7.41 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Several hedge funds have recently added to or reduced their stakes in ALLE. McClarren Financial Advisors Inc. increased its holdings in shares of Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. Brooklyn Investment Group acquired a new stake in Allegion in the third quarter valued at approximately $28,000. Concord Wealth Partners acquired a new stake in Allegion in the third quarter valued at approximately $29,000. Cromwell Holdings LLC increased its position in shares of Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Allegion during the second quarter worth $39,000. 92.21% of the stock is currently owned by 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.