Barclays Boosts Allegion (NYSE:ALLE) Price Target to $135.00

Allegion (NYSE:ALLE) had its target price boosted by investment analysts at Barclays from $117.00 to $135.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective points to a potential downside of 7.40% from the stock’s current price.

A number of other brokerages have also weighed in on ALLE. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Wells Fargo & Company upped their price objective on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $129.00.

Allegion Stock Up 0.6 %

ALLE traded up $0.82 during trading on Wednesday, hitting $145.79. 223,759 shares of the company’s stock traded hands, compared to its average volume of 690,982. The company’s 50 day simple moving average is $136.40 and its two-hundred day simple moving average is $128.25. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 4.38 and a beta of 1.12. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. Allegion has a 12-month low of $95.94 and a 12-month high of $146.76.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $965.60 million during the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 earnings per share. Analysts predict that Allegion will post 7.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently modified their holdings of the company. Norden Group LLC acquired a new stake in Allegion during the 1st quarter valued at $2,271,000. BNP Paribas Financial Markets lifted its position in Allegion by 90.7% in the 1st quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after purchasing an additional 57,832 shares during the last quarter. Morningstar Investment Services LLC increased its stake in Allegion by 107.6% during the 4th quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock valued at $27,717,000 after buying an additional 113,227 shares during the period. Oppenheimer & Co. Inc. increased its stake in Allegion by 18.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 66,701 shares of the scientific and technical instruments company’s stock valued at $8,450,000 after buying an additional 10,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Allegion by 5.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock worth $29,074,000 after purchasing an additional 10,896 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.