Allegion (ALLE) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Allegion (NYSE:ALLE) from a hold rating to a buy rating in a research report released on Tuesday morning.

A number of other equities analysts have also issued reports on ALLE. Morgan Stanley started coverage on shares of Allegion in a research report on Monday, August 20th. They set an equal weight rating and a $88.00 target price on the stock. Wells Fargo & Co upped their target price on shares of Allegion from $96.00 to $99.00 and gave the stock an outperform rating in a research report on Friday, October 26th. Credit Suisse Group started coverage on shares of Allegion in a research report on Friday, October 12th. They set an outperform rating and a $96.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Allegion from a sell rating to a hold rating in a research report on Tuesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $95.50.

Shares of Allegion stock opened at $91.59 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 2.37. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.60 and a beta of 1.05. Allegion has a 1-year low of $73.85 and a 1-year high of $92.89.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.02. The firm had revenue of $711.50 million for the quarter, compared to analysts’ expectations of $699.07 million. Allegion had a net margin of 11.75% and a return on equity of 85.03%. As a group, equities analysts anticipate that Allegion will post 4.49 EPS for the current year.

In other news, insider Douglas P. Ranck sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total transaction of $287,296.00. Following the transaction, the insider now directly owns 10,348 shares in the company, valued at $929,043.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in ALLE. Pictet Asset Management Ltd. acquired a new position in Allegion in the third quarter valued at approximately $150,690,000. Tesco Pension Investment Ltd lifted its holdings in Allegion by 428.5% in the second quarter. Tesco Pension Investment Ltd now owns 1,219,558 shares of the scientific and technical instruments company’s stock valued at $94,345,000 after buying an additional 988,781 shares during the period. Nordea Investment Management AB acquired a new position in Allegion in the third quarter valued at approximately $83,058,000. Brown Brothers Harriman & Co. lifted its holdings in Allegion by 43.8% in the third quarter. Brown Brothers Harriman & Co. now owns 2,413,198 shares of the scientific and technical instruments company’s stock valued at $218,563,000 after buying an additional 734,596 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new position in Allegion in the second quarter valued at approximately $42,036,000. Institutional investors own 94.50% of the company’s stock.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Allegion (NYSE:ALLE)

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