Allegion (NYSE:ALLE) Receives "Neutral" Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed its Neutral rating on Allegion and cut its price target to $150 from $170, implying about 14.4% upside from the current price.
• Other analysts have also been cautious, with recent target cuts from Wells Fargo and Barclays; MarketBeat’s consensus rating for Allegion remains Hold with a consensus price target of $161.50.
• Allegion’s latest earnings missed EPS estimates by $0.08, though revenue matched expectations and rose 9.7% year over year. The company also authorized a $500 million share buyback program.

Allegion (NYSE:ALLE - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at JPMorgan Chase & Co. in a research report issued on Friday,Benzinga reports. They currently have a $150.00 target price on the scientific and technical instruments company's stock, down from their prior target price of $170.00. JPMorgan Chase & Co.'s price objective points to a potential upside of 14.44% from the company's current price.

A number of other brokerages have also commented on ALLE. Wells Fargo & Company cut their price objective on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. Barclays lowered their price target on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 29th. Robert W. Baird set a $165.00 price target on shares of Allegion in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of Allegion from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. Finally, Evercore upgraded Allegion to a "strong-buy" rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $161.50.

Allegion Stock Up 0.3%

NYSE:ALLE opened at $131.08 on Friday. The stock has a 50-day simple moving average of $143.00 and a 200 day simple moving average of $156.89. Allegion has a 52-week low of $130.07 and a 52-week high of $183.11. The company has a market cap of $11.26 billion, a PE ratio of 17.91, a PEG ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.08). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a net margin of 15.24% and a return on equity of 35.41%. The company's revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. On average, sell-side analysts expect that Allegion will post 8.73 EPS for the current fiscal year.

Allegion announced that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Allegion

In other news, Director Sue Main acquired 2,000 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $149.61 per share, with a total value of $299,220.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $299,220. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Mizell sold 1,000 shares of the business's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $161.51, for a total transaction of $161,510.00. Following the transaction, the director owned 4,915 shares in the company, valued at $793,821.65. This represents a 16.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,393 shares of company stock worth $774,666 over the last quarter. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Allegion

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Alliance LLC increased its holdings in shares of Allegion by 4.5% during the 1st quarter. Wealth Alliance LLC now owns 2,644 shares of the scientific and technical instruments company's stock worth $384,000 after acquiring an additional 114 shares during the last quarter. Entropy Technologies LP acquired a new stake in Allegion during the 1st quarter valued at $889,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Allegion by 422.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,785 shares of the scientific and technical instruments company's stock valued at $2,584,000 after purchasing an additional 14,384 shares during the last quarter. Morningstar Investment Management LLC boosted its position in Allegion by 2.8% during the first quarter. Morningstar Investment Management LLC now owns 6,044 shares of the scientific and technical instruments company's stock worth $878,000 after purchasing an additional 167 shares during the period. Finally, Bank of Nova Scotia increased its holdings in shares of Allegion by 25.5% in the first quarter. Bank of Nova Scotia now owns 32,435 shares of the scientific and technical instruments company's stock valued at $4,712,000 after purchasing an additional 6,594 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Allegion Company Profile

Allegion plc NYSE: ALLE is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion's core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company's product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.

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