Allegion (NYSE:ALLE) Price Target Raised to $175.00

Key Points

• Robert W. Baird raised Allegion's price target from $150.00 to $175.00, suggesting a potential upside of 6.92% from its current share price.
• Allegion reported earnings of $2.04 per share for the last quarter, exceeding analyst estimates and showing a 5.8% year-over-year increase in revenue.
• The company has a current consensus rating of "Hold" among analysts, with an average target price of $155.14.

Allegion (NYSE:ALLE - Get Free Report) had its price objective raised by stock analysts at Robert W. Baird from $150.00 to $175.00 in a report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the scientific and technical instruments company's stock. Robert W. Baird's price target indicates a potential upside of 5.76% from the company's previous close.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. initiated coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley increased their target price on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Barclays lifted their target price on shares of Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Allegion currently has a consensus rating of "Hold" and a consensus target price of $164.57.

Allegion Price Performance

Allegion stock traded up $1.80 during midday trading on Friday, hitting $165.47. 1,446,818 shares of the company's stock were exchanged, compared to its average volume of 914,092. The company has a market cap of $14.24 billion, a P/E ratio of 22.98, a PEG ratio of 4.06 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.51 and a current ratio of 2.30. The stock has a 50-day moving average price of $144.55 and a two-hundred day moving average price of $135.49. Allegion has a 52-week low of $116.57 and a 52-week high of $166.22.

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

Institutional Investors Weigh In On Allegion

Institutional investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its stake in Allegion by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock worth $545,000 after acquiring an additional 73 shares during the period. Whittier Trust Co. lifted its position in shares of Allegion by 16.6% in the 1st quarter. Whittier Trust Co. now owns 576 shares of the scientific and technical instruments company's stock worth $75,000 after purchasing an additional 82 shares during the period. Waterloo Capital L.P. boosted its stake in shares of Allegion by 1.2% during the 4th quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company's stock valued at $938,000 after purchasing an additional 83 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Allegion by 2.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock valued at $469,000 after buying an additional 83 shares during the period. Finally, DMC Group LLC increased its position in shares of Allegion by 2.2% during the first quarter. DMC Group LLC now owns 3,953 shares of the scientific and technical instruments company's stock valued at $516,000 after buying an additional 85 shares during the period. Hedge funds and other 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.