Allegion (NYSE:ALLE) Raised to “Buy” at Longbow Research

Allegion (NYSE:ALLE) was upgraded by Longbow Research from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat reports. The firm currently has a $165.00 price objective on the scientific and technical instruments company’s stock. Longbow Research’s price objective points to a potential upside of 27.24% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $150.00 price objective (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Bank of America dropped their target price on shares of Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Weiss Ratings cut shares of Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Robert W. Baird set a $165.00 price objective on Allegion in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Allegion currently has a consensus rating of “Hold” and a consensus price target of $160.89.

Allegion Trading Down 1.0%

Shares of ALLE opened at $129.68 on Thursday. Allegion has a one year low of $125.00 and a one year high of $183.11. The stock has a 50-day moving average price of $136.54 and a 200 day moving average price of $152.17. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The company has a market capitalization of $11.14 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.72 and a beta of 0.86.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.08). The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.Allegion’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Sell-side analysts forecast that Allegion will post 8.73 EPS for the current fiscal year.

Allegion declared that its board has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, SVP Robert C. Martens sold 3,993 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the completion of the transaction, the senior vice president owned 8,570 shares in the company, valued at approximately $1,175,375.50. This represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. DV Trading LLC bought a new stake in shares of Allegion during the first quarter valued at approximately $203,000. First Nebraska Trust Co bought a new position in Allegion in the 1st quarter worth approximately $3,304,000. Glenmede Trust Co. NA increased its position in Allegion by 41.8% in the 1st quarter. Glenmede Trust Co. NA now owns 2,006 shares of the scientific and technical instruments company’s stock valued at $291,000 after acquiring an additional 591 shares during the period. Bank of America Corp DE raised its stake in Allegion by 5.5% during the 1st quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock valued at $78,766,000 after acquiring an additional 28,449 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new stake in Allegion during the 1st quarter valued at $1,071,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.