Allegion PLC (ALLE) Receives Consensus Rating of “Buy” from Analysts
Allegion PLC (NYSE:ALLE) has been assigned an average rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $91.33.
Several research firms have recently commented on ALLE. Wells Fargo & Company reissued an “outperform” rating and issued a $100.00 price objective (up previously from $90.00) on shares of Allegion in a research note on Wednesday, October 18th. BidaskClub lowered shares of Allegion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. Robert W. Baird reissued a “hold” rating on shares of Allegion in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Wolfe Research raised shares of Allegion from a “market perform” rating to an “outperform” rating in a research note on Monday, October 30th.
Shares of Allegion (NYSE ALLE) traded up $0.23 during mid-day trading on Thursday, reaching $83.33. 651,793 shares of the company’s stock traded hands, compared to its average volume of 685,686. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 3.79. The stock has a market capitalization of $7,920.00, a price-to-earnings ratio of 22.59, a PEG ratio of 1.55 and a beta of 1.10. Allegion has a one year low of $63.71 and a one year high of $89.81.
Several hedge funds and other institutional investors have recently bought and sold shares of ALLE. Whittier Trust Co. raised its holdings in Allegion by 94.2% in the third quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock valued at $107,000 after acquiring an additional 600 shares in the last quarter. Sentry Investment Management LLC raised its holdings in Allegion by 12.4% in the second quarter. Sentry Investment Management LLC now owns 4,516 shares of the scientific and technical instruments company’s stock valued at $366,000 after acquiring an additional 497 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Allegion in the second quarter valued at approximately $2,516,000. Alliancebernstein L.P. raised its holdings in Allegion by 92.2% in the second quarter. Alliancebernstein L.P. now owns 1,645,398 shares of the scientific and technical instruments company’s stock valued at $133,475,000 after acquiring an additional 789,183 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Allegion by 19.2% in the second quarter. Legal & General Group Plc now owns 449,434 shares of the scientific and technical instruments company’s stock valued at $36,458,000 after acquiring an additional 72,258 shares in the last quarter. 89.47% of the stock is owned by institutional investors and hedge funds.
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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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