Allegion PLC (NYSE:ALLE) Downgraded to “Hold” at BidaskClub
BidaskClub downgraded shares of Allegion PLC (NYSE:ALLE) from a buy rating to a hold rating in a report published on Sunday.
Several other equities research analysts have also recently issued reports on the stock. Credit Suisse Group reaffirmed a buy rating and set a $89.00 target price on shares of Allegion PLC in a research note on Friday, April 28th. Robert W. Baird cut shares of Allegion PLC from an outperform rating to a neutral rating and lifted their target price for the stock from $80.00 to $85.00 in a research note on Friday, April 28th. Zacks Investment Research raised shares of Allegion PLC from a sell rating to a hold rating in a research note on Thursday, March 23rd. Finally, Imperial Capital lifted their target price on shares of Allegion PLC from $79.00 to $85.00 and gave the stock an outperform rating in a research note on Friday, May 5th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $86.00.
Allegion PLC (ALLE) traded down 0.02% during midday trading on Friday, reaching $80.77. 438,662 shares of the company were exchanged. The stock has a market capitalization of $7.70 billion, a P/E ratio of 32.71 and a beta of 1.11. Allegion PLC has a 52 week low of $61.47 and a 52 week high of $82.90. The firm’s 50 day moving average price is $79.39 and its 200-day moving average price is $73.48.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, April 27th. The scientific and technical instruments company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. Allegion PLC had a net margin of 10.50% and a return on equity of 234.79%. The company had revenue of $548.80 million for the quarter, compared to analysts’ expectations of $536.97 million. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Allegion PLC will post $3.73 EPS for the current fiscal year.
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In other news, insider Todd V. Graves sold 1,858 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $79.19, for a total transaction of $147,135.02. Following the transaction, the insider now owns 12,084 shares of the company’s stock, valued at approximately $956,931.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey M. Wood sold 4,071 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $79.87, for a total transaction of $325,150.77. Following the transaction, the insider now directly owns 1,938 shares in the company, valued at approximately $154,788.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,384 shares of company stock worth $1,064,660. Corporate insiders own 0.64% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of Allegion PLC by 10.9% in the first quarter. Creative Planning now owns 2,080 shares of the scientific and technical instruments company’s stock valued at $157,000 after buying an additional 205 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Allegion PLC during the first quarter valued at about $1,547,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of Allegion PLC by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 83,393 shares of the scientific and technical instruments company’s stock valued at $6,313,000 after buying an additional 2,170 shares during the period. Highbridge Capital Management LLC raised its stake in shares of Allegion PLC by 103.3% in the fourth quarter. Highbridge Capital Management LLC now owns 25,000 shares of the scientific and technical instruments company’s stock valued at $1,600,000 after buying an additional 12,700 shares during the period. Finally, Kentucky Retirement Systems bought a new stake in shares of Allegion PLC during the fourth quarter valued at about $445,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
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. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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