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

Allegion (NYSE:ALLE - Get Free Report) had its price objective lifted by Barclays from $128.00 to $135.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the scientific and technical instruments company's stock. Barclays's price objective would indicate a potential downside of 9.08% from the stock's current price.

Other analysts also recently issued reports about the company. The Goldman Sachs Group raised their target price on Allegion from $149.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. began coverage on Allegion in a research note on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price for the company. Finally, Robert W. Baird raised their target price on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $149.86.

Allegion Stock Down 2.0%

Shares of ALLE stock traded down $3.05 during trading hours on Wednesday, reaching $148.48. The company had a trading volume of 104,299 shares, compared to its average volume of 868,664. The stock's fifty day simple moving average is $142.15 and its 200 day simple moving average is $133.77. Allegion has a twelve month low of $116.57 and a twelve month high of $156.10. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.51 and a current ratio of 2.17. The company has a market capitalization of $12.78 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 3.79 and a beta of 1.01.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new position in Allegion during the 4th quarter worth $28,000. Wayfinding Financial LLC acquired a new stake in Allegion during the first quarter valued at approximately $30,000. Colonial Trust Co SC raised its stake in Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after buying an additional 164 shares in the last quarter. Atala Financial Inc acquired a new stake in Allegion during the fourth quarter valued at approximately $35,000. Finally, Garde Capital Inc. acquired a new stake in Allegion during the first quarter valued at approximately $36,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.