Mizuho Forecasts Strong Price Appreciation for Allegion (NYSE:ALLE) Stock

Key Points

• Analysts at Mizuho have increased their price target for Allegion (NYSE:ALLE) from $145.00 to $155.00, maintaining a "neutral" rating despite this potential downside of 6.20%.
• Wells Fargo and Goldman Sachs have also raised their price targets to $175.00 and $170.00, respectively, with varying ratings from "equal weight" to "buy."
• Allegion stock recently traded at $165.24, with a 1-year low of $116.57 and a high of $165.51.
• The company reported earnings of $2.04 per share for the last quarter, exceeding estimates and indicating a 5.8% revenue growth compared to the previous year.

Allegion (NYSE:ALLE - Get Free Report) had its price target upped by analysts at Mizuho from $145.00 to $155.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the scientific and technical instruments company's stock. Mizuho's price target points to a potential downside of 6.20% from the company's current price.

ALLE has been the topic of a number of other research reports. Wells Fargo & Company increased their target price on Allegion from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday. The Goldman Sachs Group increased their target price on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays increased their target price on shares of Allegion from $135.00 to $156.00 and gave the stock an "underweight" rating in a report on Friday. Robert W. Baird increased their target price on shares of Allegion from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday. Finally, JPMorgan Chase & Co. began coverage on shares of Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $164.57.

Allegion Stock Performance

Allegion stock traded up $1.57 during trading on Friday, hitting $165.24. The stock had a trading volume of 678,961 shares, compared to its average volume of 985,619. Allegion has a 1 year low of $116.57 and a 1 year high of $165.51. The company has a quick ratio of 1.51, a current ratio of 2.17 and a debt-to-equity ratio of 1.23. The stock's 50 day moving average is $144.16 and its two-hundred day moving average is $135.18. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 3.88 and a beta of 1.01.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The business 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. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts predict that Allegion will post 7.77 EPS for the current year.

Institutional Investors Weigh In On Allegion

Large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its stake in shares of Allegion by 7.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,358 shares of the scientific and technical instruments company's stock valued at $1,223,000 after buying an additional 613 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Allegion by 126.4% during the 4th quarter. American Century Companies Inc. now owns 66,301 shares of the scientific and technical instruments company's stock valued at $8,664,000 after buying an additional 37,014 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Allegion by 7.5% during the 4th quarter. Sei Investments Co. now owns 50,946 shares of the scientific and technical instruments company's stock valued at $6,658,000 after buying an additional 3,559 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Allegion by 17.7% during the 4th quarter. LPL Financial LLC now owns 80,053 shares of the scientific and technical instruments company's stock valued at $10,461,000 after buying an additional 12,048 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Allegion by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company's stock valued at $1,400,688,000 after buying an additional 177,808 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

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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