Zacks Investment Research upgraded shares of Allegion (NYSE:ALLE) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Allegion continuously updates its products to keep up with shifting market preference toward electronic security products and solutions. The company’s acquisitions, divestitures, focus on innovation and solid footprint in emerging markets are encouraging. Further, a gradually recovering U.S. housing market bodes well. However, global currency fluctuations and the seasonality of the company's business is a drag. Also, earnings estimates for the current year and next have moved south by 0.5% each, over the past 60 days, reflecting analysts' concern.”

A number of other equities analysts have also recently weighed in on ALLE. BidaskClub raised shares of Allegion from a sell rating to a hold rating in a research report on Thursday, September 7th. Robert W. Baird restated a hold rating on shares of Allegion in a report on Tuesday, September 26th. Wells Fargo & Co restated an outperform rating and set a $100.00 price objective (up from $90.00) on shares of Allegion in a report on Wednesday, October 18th. Finally, Wolfe Research upgraded shares of Allegion from a market perform rating to an outperform rating in a report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $89.75.

Allegion (NYSE:ALLE) opened at $79.56 on Wednesday. The firm has a market cap of $7,561.62, a price-to-earnings ratio of 21.68, a PEG ratio of 1.49 and a beta of 1.08. Allegion has a 52-week low of $63.71 and a 52-week high of $89.81. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 3.79.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.02. The company had revenue of $609.40 million for the quarter, compared to analysts’ expectations of $622.18 million. Allegion had a net margin of 14.37% and a return on equity of 154.50%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. research analysts anticipate that Allegion will post 3.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were paid a $0.16 dividend. The ex-dividend date was Friday, December 15th. This represents a $0.64 annualized dividend and a yield of 0.80%. Allegion’s payout ratio is currently 18.18%.

Hedge funds have recently modified their holdings of the business. Whittier Trust Co. increased its stake in Allegion by 94.2% in the 3rd quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 600 shares during the last quarter. YorkBridge Wealth Partners LLC acquired a new stake in Allegion in the 3rd quarter valued at $107,000. Tredje AP fonden acquired a new stake in Allegion in the 2nd quarter valued at $105,000. QS Investors LLC increased its stake in Allegion by 1.2% in the 2nd quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock valued at $106,000 after buying an additional 16 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its stake in Allegion by 75.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock valued at $114,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.

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Allegion 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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Analyst Recommendations for Allegion (NYSE:ALLE)

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