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

Key Points

• Allegion's stock maintains a "buy" rating from Weiss Ratings, indicating positive investor sentiment despite other mixed ratings from analysts.
• The company's recent earnings report showed earnings per share of $2.30, exceeding estimates, as revenue rose to $1.07 billion, reflecting a 10.7% year-over-year growth.
• Institutional investors hold a significant majority, with 92.21% ownership in Allegion, potentially indicating strong institutional support for the stock.

Allegion (NYSE:ALLE - Get Free Report)'s stock had its "buy (b)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

ALLE has been the topic of several other reports. Zacks Research lowered shares of Allegion from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Barclays increased their target price on shares of Allegion from $185.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Friday. Robert W. Baird increased their target price on shares of Allegion from $175.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday. Morgan Stanley increased their target price on shares of Allegion from $139.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Finally, Mizuho raised their price target on shares of Allegion from $145.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $176.38.

Allegion Stock Performance

ALLE traded down $3.80 during midday trading on Friday, hitting $167.42. 670,267 shares of the company were exchanged, compared to its average volume of 952,108. The company's 50 day simple moving average is $173.98 and its 200 day simple moving average is $154.31. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 3.79 and a beta of 1.07. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.14. Allegion has a 1-year low of $116.57 and a 1-year high of $180.68.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.09. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, sell-side analysts predict that Allegion will post 7.77 earnings per share for the current year.

Insider Activity

In other news, SVP Timothy P. Eckersley sold 10,810 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the completion of the sale, the senior vice president owned 30,023 shares in the company, valued at $4,946,589.48. This trade represents a 26.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of Allegion

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Allegion by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock valued at $1,404,672,000 after purchasing an additional 48,615 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of 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 in the last quarter. Boston Partners grew its stake in shares of Allegion by 0.8% in the first quarter. Boston Partners now owns 4,752,391 shares of the scientific and technical instruments company's stock worth $619,700,000 after acquiring an additional 35,635 shares in the last quarter. State Street Corp grew its stake in shares of Allegion by 0.8% in the second quarter. State Street Corp now owns 3,971,235 shares of the scientific and technical instruments company's stock worth $572,336,000 after acquiring an additional 31,322 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Allegion by 15.2% in the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company's stock worth $369,514,000 after acquiring an additional 339,025 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

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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