Allegion (NYSE:ALLE) Now Covered by JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. began coverage on shares of Allegion (NYSE:ALLE - Get Free Report) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set an "overweight" rating and a $170.00 price target on the scientific and technical instruments company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 19.25% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Robert W. Baird lifted their price objective on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Barclays raised their price target on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a report on Friday, April 25th. Finally, Wall Street Zen cut shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $145.33.

Allegion Stock Performance

Shares of ALLE opened at $142.56 on Tuesday. The stock has a 50 day moving average of $138.20 and a 200 day moving average of $132.80. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 3.88 and a beta of 1.03. Allegion has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The company had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. During the same quarter in the prior year, the business earned $1.55 earnings per share. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Allegion will post 7.77 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Fiduciary Management Inc. WI purchased a new position in shares of Allegion in the 4th quarter worth about $116,484,000. AQR Capital Management LLC boosted its position in Allegion by 380.0% in the first quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company's stock worth $142,707,000 after purchasing an additional 885,857 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised 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 acquiring an additional 878,796 shares during the period. Norges Bank bought a new position in shares of Allegion during the 4th quarter valued at approximately $108,058,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Allegion in the fourth quarter valued at about $65,175,000. 92.21% of the stock is currently owned by institutional investors.

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.

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