Allegion PLC (ALLE) Receives $86.00 Average Price Target from Analysts

Allegion PLC (NYSE:ALLE) has been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $86.00.

ALLE has been the topic of a number of research analyst reports. BidaskClub cut shares of Allegion PLC from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Zacks Investment Research lowered shares of Allegion PLC from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. Imperial Capital upped their price objective on shares of Allegion PLC from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Robert W. Baird lowered shares of Allegion PLC from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $85.00 in a research note on Friday, April 28th. Finally, Wolfe Research started coverage on shares of Allegion PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company.

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Shares of Allegion PLC (NYSE:ALLE) opened at 78.92 on Friday. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $82.90. The stock has a 50 day moving average of $80.90 and a 200 day moving average of $76.58. The stock has a market capitalization of $7.50 billion, a PE ratio of 30.53 and a beta of 1.10.

Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.11. The firm had revenue of $627 million for the quarter, compared to analysts’ expectations of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Analysts forecast that Allegion PLC will post $3.78 earnings per share for the current year.

In other Allegion PLC news, insider Todd V. Graves sold 1,858 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $79.19, for a total transaction of $147,135.02. Following the completion of the sale, the insider now directly owns 12,084 shares of the company’s stock, valued at $956,931.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy P. Eckersley sold 12,782 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.14, for a total transaction of $1,037,131.48. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ALLE. Tredje AP fonden purchased a new stake in Allegion PLC during the second quarter valued at approximately $105,000. Tower Research Capital LLC TRC raised its stake in Allegion PLC by 210.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 959 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Allegion PLC by 5.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,205 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 111 shares during the last quarter. First Manhattan Co. raised its stake in Allegion PLC by 51.3% in the first quarter. First Manhattan Co. now owns 2,212 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 750 shares during the last quarter. Finally, Creative Planning raised its stake in Allegion PLC by 10.9% in the first quarter. Creative Planning now owns 2,080 shares of the scientific and technical instruments company’s stock valued at $157,000 after buying an additional 205 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Allegion PLC 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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