Morgan Stanley Increases Allegion (NYSE:ALLE) Price Target to $151.00

Allegion (NYSE:ALLE - Get Free Report) had its target price hoisted by analysts at Morgan Stanley from $139.00 to $151.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the scientific and technical instruments company's stock. Morgan Stanley's price target suggests a potential upside of 1.66% from the stock's previous close.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Allegion in a report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target on the stock. Barclays lifted their target price on shares of Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. Robert W. Baird upped their target price on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group lifted their price target on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $151.57.

Allegion Stock Down 0.2%

Shares of NYSE:ALLE traded down $0.27 during midday trading on Friday, hitting $148.54. 725,267 shares of the company's stock were exchanged, compared to its average volume of 872,669. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.17 and a quick ratio of 1.51. Allegion has a 12 month low of $116.57 and a 12 month high of $156.10. The company has a market cap of $12.78 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 3.76 and a beta of 1.01. The stock has a 50 day moving average price of $142.31 and a 200-day moving average price of $133.89.

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

Institutional Trading of Allegion

Several hedge funds have recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Allegion in the 4th quarter worth about $28,000. Wayfinding Financial LLC bought a new position in Allegion during the first quarter worth about $30,000. Colonial Trust Co SC increased its stake in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Atala Financial Inc bought a new stake in shares of Allegion in the fourth quarter valued at approximately $35,000. Finally, Garde Capital Inc. purchased a new stake in shares of Allegion during the 1st quarter valued at approximately $36,000. 92.21% of the stock is currently owned by institutional investors.

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.