Allegion (NYSE:ALLE) Rating Increased to Equal Weight at Barclays

Barclays upgraded shares of Allegion (NYSE:ALLE) from an underweight rating to an equal weight rating in a report released on Thursday morning, Marketbeat reports. Barclays currently has $163.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $156.00.

Several other equities analysts have also weighed in on ALLE. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Morgan Stanley increased their price objective on shares of Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Robert W. Baird increased their price objective on shares of Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Allegion from $150.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Allegion from $149.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $166.75.

Allegion Stock Performance

Shares of ALLE opened at $168.58 on Thursday. The firm has a 50-day moving average of $151.24 and a 200-day moving average of $138.73. Allegion has a one year low of $116.57 and a one year high of $170.11. The company has a market cap of $14.47 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.64 and a beta of 1.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.04. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same quarter last year, the firm posted $1.96 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Allegion will post 7.77 earnings per share for the current year.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the transaction, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Allegion by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 740,233 shares of the scientific and technical instruments company’s stock worth $96,571,000 after purchasing an additional 4,942 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Allegion by 324.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,969 shares of the scientific and technical instruments company’s stock worth $5,606,000 after purchasing an additional 32,842 shares during the period. Merit Financial Group LLC lifted its position in shares of Allegion by 284.1% during the 1st quarter. Merit Financial Group LLC now owns 8,285 shares of the scientific and technical instruments company’s stock worth $1,081,000 after buying an additional 6,128 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Allegion by 6.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,863 shares of the scientific and technical instruments company’s stock worth $15,768,000 after buying an additional 7,645 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Allegion by 10.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 37,648 shares of the scientific and technical instruments company’s stock worth $4,912,000 after buying an additional 3,618 shares during the last quarter. 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.