Allegion (NYSE:ALLE) Given New $187.00 Price Target at Barclays

Key Points

• Barclays increased Allegion's price target from $185.00 to $187.00, indicating a potential upside of 10.36% from its current price, maintaining an "equal weight" rating.
• Other analysts have also raised their price targets, with Robert W. Baird setting it at $190.00 and Goldman Sachs at $198.00, reflecting a consensus rating of "Hold" and an average price target of $176.38.
• Allegion's recent earnings report showed an EPS of $2.30, which exceeded analysts' estimates and demonstrated a year-over-year revenue growth of 10.7%.

Allegion (NYSE:ALLE - Get Free Report) had its target price increased by stock analysts at Barclays from $185.00 to $187.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the scientific and technical instruments company's stock. Barclays's price target indicates a potential upside of 10.36% from the company's current price.

Several other analysts have also weighed in on ALLE. Robert W. Baird lifted their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Allegion from $176.00 to $198.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Wells Fargo & Company boosted their price target on shares of Allegion from $175.00 to $185.00 and gave the stock an "equal weight" rating in a report on Monday, October 6th. Morgan Stanley upped their price objective 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, Bank of America raised shares of Allegion from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $176.38.

Allegion Trading Down 1.0%

NYSE:ALLE traded down $1.78 during mid-day trading on Friday, hitting $169.44. 65,506 shares of the company's stock were exchanged, compared to its average volume of 949,184. The company has a 50 day simple moving average of $173.98 and a 200-day simple moving average of $154.31. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. Allegion has a fifty-two week low of $116.57 and a fifty-two week high of $180.68. The firm has a market capitalization of $14.55 billion, a P/E ratio of 23.60, a PEG ratio of 3.79 and a beta of 1.07.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.21 by $0.09. Allegion had a net margin of 16.15% and a return on equity of 42.62%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned $2.16 EPS. The firm's revenue was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, research analysts expect that Allegion will post 7.77 earnings per share for the current year.

Insider Buying and Selling at Allegion

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the sale, the senior vice president owned 30,023 shares of the company's stock, valued at $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.23% of the company's stock.

Hedge Funds Weigh In On Allegion

A number of institutional investors have recently added to or reduced their stakes in ALLE. AQR Capital Management LLC grew its position in Allegion by 380.0% during the 1st quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company's stock valued at $142,707,000 after purchasing an additional 885,857 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Allegion by 22.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,776,203 shares of the scientific and technical instruments company's stock worth $623,104,000 after purchasing an additional 878,796 shares during the last quarter. Berkshire Hathaway Inc purchased a new position in Allegion in the second quarter worth about $112,433,000. Norges Bank purchased a new position in shares of Allegion during the 2nd quarter valued at about $109,862,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Allegion by 390.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 593,298 shares of the scientific and technical instruments company's stock valued at $85,506,000 after buying an additional 472,435 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

About Allegion

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.