Zacks Investment Research cut shares of Allegion PLC (NYSE:ALLE) from a buy rating to a hold rating in a research report released on Thursday.
According to Zacks, “Allegion’s third-quarter 2017 earnings were in line with the Zacks Consensus Estimate while revenues missed the consensus mark by 1.5%. Adjusted earnings were however up 9.7% from the prior-year quarter. Quarterly net revenues increased 4.9% on a year-over-year basis on the back of continued organic growth, synergies from acquisitions and favorable foreign currency impact. Revenues were also up 2.7% on an organic basis. Adjusted operating margin was up 30 basis points year over year owing to solid price performance, volume leverage and productivity, which offset impact from unfavorable product mix, increased investments and inflation. Adjusted EBITDA margin was however down 20 basis points. Moreover, global currency fluctuations are a major headwind.”
Several other equities research analysts have also recently commented on ALLE. Wolfe Research initiated coverage on Allegion PLC in a research note on Tuesday, July 11th. They issued a market perform rating on the stock. BidaskClub cut Allegion PLC from a buy rating to a hold rating in a research note on Sunday, July 16th. Robert W. Baird set a $85.00 target price on Allegion PLC and gave the company a hold rating in a research note on Thursday, August 24th. Finally, Wells Fargo & Company restated an outperform rating and issued a $100.00 target price (up previously from $90.00) on shares of Allegion PLC in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $89.75.
Shares of Allegion PLC (ALLE) traded down $0.20 on Thursday, hitting $82.02. The company had a trading volume of 896,132 shares, compared to its average volume of 790,814. The firm has a market cap of $7,800.00, a price-to-earnings ratio of 22.41, a PEG ratio of 1.54 and a beta of 1.10. The company has a debt-to-equity ratio of 3.79, a current ratio of 2.14 and a quick ratio of 1.54. Allegion PLC has a 1-year low of $63.31 and a 1-year high of $89.81.
Allegion PLC (NYSE:ALLE) last released its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.02. The firm had revenue of $609.40 million for the quarter, compared to analysts’ expectations of $622.18 million. Allegion PLC had a return on equity of 113.89% and a net margin of 14.79%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. research analysts anticipate that Allegion PLC will post 3.79 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in ALLE. UBS Asset Management Americas Inc. raised its stake in shares of Allegion PLC by 1,505.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,397,478 shares of the scientific and technical instruments company’s stock worth $113,363,000 after purchasing an additional 1,310,457 shares in the last quarter. Egerton Capital UK LLP bought a new stake in shares of Allegion PLC during the 2nd quarter worth approximately $102,557,000. Alliancebernstein L.P. raised its stake in shares of Allegion PLC by 92.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,645,398 shares of the scientific and technical instruments company’s stock worth $133,475,000 after purchasing an additional 789,183 shares in the last quarter. BlackRock Inc. raised its stake in shares of Allegion PLC by 14.3% during the 2nd quarter. BlackRock Inc. now owns 5,955,519 shares of the scientific and technical instruments company’s stock worth $483,111,000 after purchasing an additional 746,516 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Allegion PLC by 44.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,873,307 shares of the scientific and technical instruments company’s stock worth $151,963,000 after purchasing an additional 579,517 shares in the last quarter. 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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