Allegion (NYSE:ALLE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Shares of Allegion have outperformed its industry so far this year. The company 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 raise concerns. Further, the seasonality of the company's business is a drag. “

Several other equities analysts have also recently issued reports on ALLE. Barclays started coverage on shares of Allegion in a research note on Thursday, February 15th. They set an “overweight” rating and a $100.00 target price on the stock. Imperial Capital restated an “outperform” rating and set a $94.00 target price (up previously from $85.00) on shares of Allegion in a research note on Wednesday, February 21st. Finally, Wells Fargo restated an “outperform” rating and set a $105.00 target price (up previously from $100.00) on shares of Allegion in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Allegion has an average rating of “Buy” and an average target price of $95.83.

Allegion stock traded down $0.22 during mid-day trading on Wednesday, reaching $81.93. The stock had a trading volume of 190,947 shares, compared to its average volume of 726,568. The company has a debt-to-equity ratio of 3.56, a current ratio of 2.24 and a quick ratio of 1.72. The stock has a market cap of $8,025.47, a price-to-earnings ratio of 20.69, a PEG ratio of 1.53 and a beta of 1.05. Allegion has a one year low of $75.85 and a one year high of $89.81.

Allegion (NYSE:ALLE) last posted its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.17. The business had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $605.13 million. Allegion had a net margin of 11.35% and a return on equity of 126.46%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. equities analysts expect that Allegion will post 4.49 EPS for the current fiscal year.

In other news, insider Chris E. Muhlenkamp sold 3,944 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.33, for a total value of $340,485.52. Following the transaction, the insider now owns 17,527 shares in the company, valued at approximately $1,513,105.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick S. Shannon sold 20,200 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $85.83, for a total transaction of $1,733,766.00. Following the completion of the transaction, the chief financial officer now owns 68,790 shares in the company, valued at approximately $5,904,245.70. The disclosure for this sale can be found here. Insiders sold a total of 57,415 shares of company stock worth $4,924,641 in the last quarter. Company insiders own 0.64% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ALLE. Dimensional Fund Advisors LP increased its holdings in Allegion by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 409,920 shares of the scientific and technical instruments company’s stock worth $35,444,000 after acquiring an additional 3,803 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Allegion in the 3rd quarter worth approximately $211,000. Janus Henderson Group PLC increased its holdings in Allegion by 126.3% in the 3rd quarter. Janus Henderson Group PLC now owns 49,328 shares of the scientific and technical instruments company’s stock worth $4,266,000 after acquiring an additional 27,535 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Allegion in the 3rd quarter worth approximately $221,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in Allegion by 30.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,427 shares of the scientific and technical instruments company’s stock worth $297,000 after acquiring an additional 808 shares in the last quarter. 92.49% of the stock is owned by institutional investors.

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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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