Allegion PLC (ALLE) Lifted to “Buy” at TheStreet
A number of other research analysts have also recently weighed in on ALLE. Zacks Investment Research upgraded shares of Allegion PLC from a hold rating to a buy rating and set a $80.00 price objective for the company in a report on Monday, July 18th. Imperial Capital cut shares of Allegion PLC from an outperform rating to an in-line rating and lifted their price objective for the company from $71.00 to $79.00 in a report on Tuesday, August 2nd. Finally, Berenberg Bank started coverage on shares of Allegion PLC in a report on Thursday, October 6th. They issued a buy rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Allegion PLC currently has an average rating of Buy and a consensus target price of $74.13.
Shares of Allegion PLC (NYSE:ALLE) opened at 68.28 on Tuesday. The stock has a market cap of $6.56 billion, a PE ratio of 29.30 and a beta of 1.09. Allegion PLC has a 52-week low of $52.95 and a 52-week high of $73.49. The company’s 50-day moving average is $66.67 and its 200-day moving average is $68.56.
Allegion PLC (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by $0.02. The company earned $581.10 million during the quarter, compared to analysts’ expectations of $586.67 million. Allegion PLC had a net margin of 10.22% and a return on equity of 327.24%. Allegion PLC’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. Equities analysts anticipate that Allegion PLC will post $3.40 EPS for the current year.
In related news, insider Feng William Yu sold 11,818 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $63.52, for a total value of $750,679.36. Following the completion of the sale, the insider now owns 33,146 shares in the company, valued at approximately $2,105,433.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in Allegion PLC by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,030 shares of the company’s stock valued at $209,000 after buying an additional 10 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Allegion PLC by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,946 shares of the company’s stock valued at $410,000 after buying an additional 30 shares during the period. Creative Planning increased its stake in Allegion PLC by 1.7% in the third quarter. Creative Planning now owns 1,804 shares of the company’s stock valued at $124,000 after buying an additional 31 shares during the period. IBM Retirement Fund increased its stake in Allegion PLC by 0.4% in the second quarter. IBM Retirement Fund now owns 9,696 shares of the company’s stock valued at $673,000 after buying an additional 40 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Allegion PLC by 0.7% in the second quarter. CIBC Asset Management Inc now owns 6,673 shares of the company’s stock valued at $463,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 89.89% of the company’s stock.
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. It operates through three segments: Americas; Europe, the Middle East, India and Africa (EMEIA), and Asia Pacific. The Company’s products include door closers and controls, electronic security products, exit devices, time, attendance and workforce productivity systems, door and door frames (steel), electronic and biometric access control systems, locks, locksets and key systems, and other accessories.
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