Allegion's (ALLE) Buy (B) Rating Reaffirmed at Weiss Ratings

Key Points

• Allegion's Buy Rating Reaffirmed: Weiss Ratings has restated Allegion's "buy" rating, reflecting positive market sentiment towards the company's stock.
• Target Price Updates: Multiple analysts have increased their target prices for Allegion, with Bank of America raising it from $110 to $175 and Wells Fargo boosting it from $175 to $185.
• Recent Financial Performance: Allegion reported a quarterly EPS of $2.04, surpassing estimates and signifying a 5.8% year-over-year revenue growth to $1.02 billion.

Allegion (NYSE:ALLE - Get Free Report)'s stock had its "buy (b)" rating restated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on the company. Bank of America raised Allegion from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $110.00 to $175.00 in a report on Tuesday, July 29th. JPMorgan Chase & Co. initiated coverage on Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price on the stock. Wells Fargo & Company lifted their target price on Allegion from $175.00 to $185.00 and gave the stock an "equal weight" rating in a report on Monday. Mizuho lifted their target price on Allegion from $145.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Zacks Research downgraded Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Allegion currently has a consensus rating of "Hold" and an average price target of $174.25.

Allegion Price Performance

Shares of NYSE ALLE traded up $1.15 during mid-day trading on Wednesday, hitting $178.18. 134,211 shares of the stock traded hands, compared to its average volume of 957,097. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. Allegion has a twelve month low of $116.57 and a twelve month high of $180.34. The company has a market cap of $15.30 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.07. The firm has a 50 day simple moving average of $171.50 and a two-hundred day simple moving average of $150.52.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.10 million. During the same quarter last year, the business posted $1.96 EPS. Allegion's revenue for the quarter 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 forecast that Allegion will post 7.77 EPS for the current fiscal year.

Insider Transactions at Allegion

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the sale, the senior vice president directly owned 30,023 shares of the company's stock, valued at $4,946,589.48. The trade was a 26.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction dated 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 sale, the senior vice president directly owned 8,773 shares of the company's stock, valued at $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. Insiders own 0.23% of the company's stock.

Institutional Trading of Allegion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. Huntington National Bank grew its position in shares of Allegion by 7.7% during the 2nd quarter. Huntington National Bank now owns 853 shares of the scientific and technical instruments company's stock valued at $123,000 after acquiring an additional 61 shares during the period. Aurora Investment Counsel grew its position in shares of Allegion by 0.6% during the 2nd quarter. Aurora Investment Counsel now owns 12,466 shares of the scientific and technical instruments company's stock valued at $1,797,000 after acquiring an additional 71 shares during the period. Corient Private Wealth LLC grew its position in shares of Allegion by 0.9% during the 2nd quarter. Corient Private Wealth LLC now owns 8,243 shares of the scientific and technical instruments company's stock valued at $1,188,000 after acquiring an additional 72 shares during the period. Avantax Advisory Services Inc. grew its position in shares of Allegion by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,180 shares of the scientific and technical instruments company's stock valued at $545,000 after acquiring an additional 73 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Allegion by 25.8% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 376 shares of the scientific and technical instruments company's stock worth $54,000 after buying an additional 77 shares during the period. 92.21% of the stock is 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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