Allegion (NYSE:ALLE) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Allegion's stock price target has been raised from $163.00 to $185.00 by Barclays, indicating a potential upside of 4.45% from its previous close.
• Other analysts, including Bank of America and Goldman Sachs, have also increased their price targets, with Goldman Sachs setting its target at $198.00 and categorizing the stock as a "buy."
• The company reported a quarterly earnings of $2.04 EPS, exceeding analyst expectations, and its revenue increased by 5.8% year-over-year to $1.02 billion.

Allegion (NYSE:ALLE - Get Free Report) had its price objective upped by equities researchers at Barclays from $163.00 to $185.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the scientific and technical instruments company's stock. Barclays's price objective would indicate a potential upside of 4.45% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and upped their price target for the company from $110.00 to $175.00 in a research report on Tuesday, July 29th. Morgan Stanley upped their price objective on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Mizuho lifted their target price on shares of Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. The Goldman Sachs Group boosted their price target on shares of Allegion from $176.00 to $198.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company raised their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $173.00.

Allegion Stock Performance

NYSE:ALLE traded down $0.24 during trading on Wednesday, reaching $177.12. The company's stock had a trading volume of 133,199 shares, compared to its average volume of 962,955. Allegion has a 12 month low of $116.57 and a 12 month high of $180.34. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 3.76 and a beta of 1.07. The firm has a 50 day moving average of $170.00 and a 200-day moving average of $148.81. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.64 and a current ratio of 2.30.

Allegion (NYSE:ALLE - Get Free Report) last posted 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 net margin of 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $999.10 million. During the same quarter in the previous year, the firm posted $1.96 EPS. Allegion's revenue was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Research analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 3,849 shares of the company's 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 completion of the transaction, the senior vice president directly owned 8,773 shares in the company, valued at approximately $1,446,843.16. The trade was a 30.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the senior vice president directly owned 30,023 shares in the company, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.

Hedge Funds Weigh In On Allegion

Several institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Allegion by 148.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,127 shares of the scientific and technical instruments company's stock valued at $1,323,000 after acquiring an additional 6,051 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Allegion by 38,934.5% in the 1st quarter. GAMMA Investing LLC now owns 196,734 shares of the scientific and technical instruments company's stock valued at $25,666,000 after purchasing an additional 196,230 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Allegion by 4.0% during the 1st quarter. Parallel Advisors LLC now owns 2,746 shares of the scientific and technical instruments company's stock valued at $358,000 after purchasing an additional 105 shares during the last quarter. Rhumbline Advisers raised its position in Allegion by 12.6% in the 1st quarter. Rhumbline Advisers now owns 188,269 shares of the scientific and technical instruments company's stock worth $24,561,000 after purchasing an additional 21,013 shares during the period. Finally, Czech National Bank raised its position in Allegion by 5.9% in the 1st quarter. Czech National Bank now owns 19,966 shares of the scientific and technical instruments company's stock worth $2,605,000 after purchasing an additional 1,118 shares during the period. 92.21% of the stock is currently owned by 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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