Allegion plc (NYSE:ALLE) Given Average Rating of “Reduce” by Brokerages

Shares of Allegion plc (NYSE:ALLE) have earned a consensus recommendation of “Reduce” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $125.40.

A number of equities research analysts have issued reports on ALLE shares. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Barclays increased their target price on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company increased their target price on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th.

Allegion Stock Up 1.2 %

ALLE stock opened at $132.86 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. Allegion has a 52-week low of $95.94 and a 52-week high of $141.99. The company has a 50-day moving average of $123.77 and a two-hundred day moving average of $126.20. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 4.08 and a beta of 1.13.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same period in the prior year, the company earned $1.76 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Allegion will post 7.22 EPS for the current year.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the sale, the senior vice president now owns 11,103 shares in the company, valued at $1,354,343.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Boston Partners raised its position in Allegion by 1.5% in the first quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after purchasing an additional 72,773 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Allegion by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after purchasing an additional 91,011 shares in the last quarter. Van ECK Associates Corp raised its position in Allegion by 2.8% in the first quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock worth $445,432,000 after purchasing an additional 90,951 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Allegion by 33.0% during the fourth quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock worth $240,122,000 after buying an additional 470,104 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Allegion by 7.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after buying an additional 120,870 shares in the last quarter. Institutional investors and hedge funds 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.