Allegion PLC (ALLE) Raised to Outperform at Wolfe Research
Wolfe Research upgraded shares of Allegion PLC (NYSE:ALLE) from a market perform rating to an outperform rating in a research note issued to investors on Monday, The Fly reports.
ALLE has been the topic of several other reports. BidaskClub cut shares of Allegion PLC from a buy rating to a hold rating in a report on Sunday, July 16th. Robert W. Baird set a $85.00 price target on shares of Allegion PLC and gave the company a hold rating in a report on Thursday, August 24th. Finally, Wells Fargo & Company restated an outperform rating and set a $100.00 price target (up from $90.00) on shares of Allegion PLC in a report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Allegion PLC currently has a consensus rating of Buy and a consensus price target of $89.75.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 EPS for the quarter, meeting the consensus estimate of $1.02. Allegion PLC had a net margin of 14.37% and a return on equity of 154.50%. The business had revenue of $609.40 million for the quarter, compared to analysts’ expectations of $622.18 million. During the same period in the previous year, the company posted $0.93 EPS. Allegion PLC’s revenue was up 4.9% on a year-over-year basis.
COPYRIGHT VIOLATION NOTICE: “Allegion PLC (ALLE) Raised to Outperform at Wolfe Research” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/11/02/allegion-plc-alle-raised-to-outperform-at-wolfe-research.html.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.64% of the company’s stock.
Large investors have recently modified their holdings of the stock. Tredje AP fonden bought a new stake in Allegion PLC in the second quarter worth $105,000. QS Investors LLC boosted its holdings in Allegion PLC by 1.2% in the second quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after purchasing an additional 16 shares in the last quarter. Whittier Trust Co. boosted its holdings in Allegion PLC by 94.2% in the third quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 600 shares in the last quarter. YorkBridge Wealth Partners LLC bought a new stake in Allegion PLC in the third quarter worth $107,000. Finally, Acrospire Investment Management LLC boosted its holdings in Allegion PLC by 75.0% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock worth $114,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.
About Allegion PLC
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.
Receive News & Stock Ratings for Allegion PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion PLC and related stocks with our FREE daily email newsletter.