Allegion (NYSE:ALLE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company increased its price target for Allegion from $150.00 to $175.00, suggesting a potential upside of 6.81% based on the stock's previous close.
• Allegion reported quarterly earnings of $2.04 EPS, beating analyst expectations, with revenue of $1.02 billion, up 5.8% year-over-year.
• The stock has seen various target price adjustments from other firms, with the average consensus target price now at $160.86.
• Approximately 92.21% of Allegion's stock is owned by institutional investors, indicating strong institutional interest in the company.

Allegion (NYSE:ALLE - Get Free Report) had its price objective boosted by Wells Fargo & Company from $150.00 to $175.00 in a report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the scientific and technical instruments company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 5.76% from the company's current price.

ALLE has been the subject of a number of other research reports. The Goldman Sachs Group upped their price target on shares of Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Robert W. Baird increased their price objective on shares of Allegion from $150.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday. Morgan Stanley increased their price objective on shares of Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. initiated coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price objective for the company. Finally, Barclays increased their price objective on shares of Allegion from $128.00 to $135.00 and gave the company an "underweight" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $164.57.

Allegion Stock Performance

Shares of Allegion stock traded up $1.80 during trading on Friday, hitting $165.47. 1,446,818 shares of the stock were exchanged, compared to its average volume of 914,092. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 4.06 and a beta of 1.01. The company has a fifty day moving average price of $144.55 and a 200-day moving average price of $135.49. Allegion has a 1-year low of $116.57 and a 1-year high of $166.22. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 1.14.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. Allegion's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 EPS. As a group, equities analysts predict that Allegion will post 7.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Allegion by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,767,073 shares of the scientific and technical instruments company's stock worth $1,404,672,000 after acquiring an additional 48,615 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Allegion by 22.5% during 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 boosted its stake in Allegion by 0.8% during 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. Geode Capital Management LLC boosted its stake in Allegion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock worth $280,607,000 after acquiring an additional 41,417 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Allegion by 6.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,147,110 shares of the scientific and technical instruments company's stock worth $280,112,000 after acquiring an additional 136,638 shares in the last quarter. 92.21% of the stock is 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.