Allegion (NYSE:ALLE) Hits New 12-Month High - Should You Buy?

Key Points

• Allegion PLC's stock reached a new 52-week high of $172.67, ending the day at $171.56, with significant trading volume of 754,439 shares.
• Various analysts have raised their price targets for Allegion, with Wells Fargo setting a target of $175.00 and Morgan Stanley at $151.00, while the consensus target price stands at $166.75.
• Allegion reported quarterly earnings of $2.04 per share, surpassing estimates, with a year-over-year revenue increase of 5.8% and providing FY 2025 EPS guidance of $8.000-8.150.

Allegion PLC (NYSE:ALLE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $172.67 and last traded at $171.56, with a volume of 754439 shares traded. The stock had previously closed at $167.21.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their target price on Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. assumed coverage on Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price on the stock. Barclays upgraded Allegion from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $156.00 to $163.00 in a research note on Thursday, August 14th. Wells Fargo & Company lifted their price target on Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group lifted their price target on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $166.75.

Allegion Stock Performance

The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average price of $154.89 and a 200-day moving average price of $140.44. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 3.71 and a beta of 1.05.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.04. The business 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 business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 earnings per share. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the sale, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wayfinding Financial LLC purchased a new stake in shares of Allegion during the first quarter worth $30,000. Sound Income Strategies LLC purchased a new stake in shares of Allegion during the second quarter worth $32,000. Colonial Trust Co SC raised its holdings in shares of Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 164 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Allegion during the second quarter worth $33,000. Finally, Spire Wealth Management raised its holdings in shares of Allegion by 78.0% during the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 103 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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