Allegion PLC (ALLE) Upgraded to “Outperform” at Wolfe Research

Allegion PLC (NYSE:ALLE) was upgraded by stock analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday.

Several other equities analysts have also commented on ALLE. BidaskClub lowered Allegion PLC from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird reiterated a “hold” rating on shares of Allegion PLC in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $100.00 price objective (up from $90.00) on shares of Allegion PLC in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Allegion PLC currently has a consensus rating of “Buy” and a consensus price target of $89.75.

Shares of Allegion PLC (NYSE ALLE) traded up 2.04% during mid-day trading on Monday, hitting $81.93. The stock had a trading volume of 260,395 shares. The firm has a 50 day moving average price of $85.36 and a 200-day moving average price of $80.82. The stock has a market cap of $7.78 billion, a P/E ratio of 31.69 and a beta of 1.13. Allegion PLC has a 12 month low of $62.65 and a 12 month high of $89.81.

Allegion PLC (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $1.02 EPS for the quarter, meeting the consensus estimate of $1.02. The firm had revenue of $609.40 million for the quarter, compared to analyst estimates of $622.18 million. Allegion PLC had a return on equity of 154.50% and a net margin of 14.37%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. On average, equities research analysts forecast that Allegion PLC will post $3.79 EPS for the current year.

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In other news, insider Timothy P. Eckersley sold 12,782 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $81.14, for a total transaction of $1,037,131.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.64% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ALLE. Teachers Advisors LLC boosted its holdings in Allegion PLC by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 258,365 shares of the scientific and technical instruments company’s stock valued at $19,558,000 after acquiring an additional 6,933 shares during the period. Thrivent Financial For Lutherans boosted its holdings in Allegion PLC by 6.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 3,501 shares of the scientific and technical instruments company’s stock valued at $265,000 after acquiring an additional 200 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Allegion PLC during the 1st quarter valued at about $371,000. Dimensional Fund Advisors LP boosted its holdings in Allegion PLC by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 393,306 shares of the scientific and technical instruments company’s stock valued at $29,773,000 after acquiring an additional 4,372 shares during the period. Finally, UBS Group AG boosted its holdings in Allegion PLC by 61.0% during the 1st quarter. UBS Group AG now owns 42,116 shares of the scientific and technical instruments company’s stock valued at $3,188,000 after acquiring an additional 15,950 shares during the period. Institutional investors own 90.06% of the company’s stock.

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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