Allegion (NYSE:ALLE) Stock Rating Lowered by Zacks Research

Key Points

• Allegion's stock rating was downgraded from a "strong-buy" to a "hold" by Zacks Research, indicating a shift in analyst sentiment.
• Despite the downgrade, several analysts have raised their target prices for Allegion, with the average rating now at "Hold" and a target price of $166.75.
• Allegion reported earnings of $2.04 per share for the last quarter, exceeding estimates and reflecting a 5.8% increase in revenue year-over-year.

Zacks Research cut shares of Allegion (NYSE:ALLE - Free Report) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other research analysts have also commented on the company. Mizuho upped their target price on Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. started 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. Morgan Stanley upped their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. The Goldman Sachs Group upped their target price on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America upgraded Allegion from an "underperform" rating to a "neutral" rating and upped their target price for the company from $110.00 to $175.00 in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $166.75.

Allegion Stock Performance

Shares of ALLE stock traded down $0.39 during trading hours on Thursday, reaching $167.60. 635,942 shares of the company's stock were exchanged, compared to its average volume of 972,014. Allegion has a fifty-two week low of $116.57 and a fifty-two week high of $172.95. The stock has a market capitalization of $14.39 billion, a P/E ratio of 23.28, a P/E/G ratio of 3.65 and a beta of 1.07. The business has a fifty day moving average price of $159.35 and a 200-day moving average price of $142.27. The company has a quick ratio of 1.64, a current ratio of 2.30 and a debt-to-equity ratio of 1.14.

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 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. During the same period in the previous year, the company earned $1.96 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Analysts predict that Allegion will post 7.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allegion news, SVP Timothy P. Eckersley sold 10,810 shares of Allegion 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 completion of the transaction, the senior vice president directly owned 30,023 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of Allegion stock in a transaction on Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the transaction, the senior vice president directly owned 8,773 shares of the company's stock, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC increased its stake in shares of Allegion by 65.1% in the second quarter. Orion Porfolio Solutions LLC now owns 21,683 shares of the scientific and technical instruments company's stock valued at $3,125,000 after buying an additional 8,547 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Allegion by 35.0% in the second quarter. Thrivent Financial for Lutherans now owns 23,751 shares of the scientific and technical instruments company's stock valued at $3,422,000 after buying an additional 6,161 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Allegion by 50.4% in the second quarter. Neuberger Berman Group LLC now owns 24,427 shares of the scientific and technical instruments company's stock valued at $3,520,000 after buying an additional 8,185 shares in the last quarter. BLVD Private Wealth LLC acquired a new stake in shares of Allegion in the second quarter valued at $1,095,000. Finally, State of Wyoming increased its stake in shares of Allegion by 344.0% in the second quarter. State of Wyoming now owns 6,562 shares of the scientific and technical instruments company's stock valued at $946,000 after buying an additional 5,084 shares in the last quarter. 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.