Allegion (NYSE:ALLE) Hits New 12-Month High - Still a Buy?

Key Points

• Allegion's shares reached a new 52-week high of $170.26, with the latest trading price at $169.96 and a trading volume of 124,737 shares.
• Analysts have issued a mix of ratings, with a consensus target price of $166.75; two analysts recommend buying while six rate it as hold.
• The company's latest earnings revealed an EPS of $2.04, surpassing expectations and showcasing a 5.8% year-over-year revenue growth.

Shares of Allegion PLC (NYSE:ALLE - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $170.26 and last traded at $169.96, with a volume of 124737 shares trading hands. The stock had previously closed at $167.20.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ALLE shares. JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 target price on the stock. Morgan Stanley raised their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. The Goldman Sachs Group raised their target price on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Robert W. Baird increased their price target on Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and increased their price target for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $166.75.

Allegion Price Performance

The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 3.58 and a beta of 1.05. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30. The company has a 50 day moving average of $152.35 and a 200 day moving average of $139.30.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same period in the previous year, the business earned $1.96 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts anticipate that Allegion PLC will post 7.77 EPS for the current year.

Insider Buying and Selling

In other 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 transaction of $1,781,055.60. Following the sale, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. This trade represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 8,773 shares in the company, valued at $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

Institutional Trading of Allegion

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

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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