Wells Fargo & Company Raises Allegion (NYSE:ALLE) Price Target to $185.00

Key Points

• Wells Fargo & Company has raised the price target for Allegion (NYSE:ALLE) from $175.00 to $185.00, indicating a potential upside of 4.00% from the stock's previous close.
• Other analysts, including Barclays and JPMorgan Chase, have also boosted their price targets, with Barclays matching the new target of $185.00 and JPMorgan Chase setting it at $170.00.
• Allegion's recent earnings report showed a 5.8% increase in revenue year-over-year, with earnings per share of $2.04, surpassing analysts' expectations.

Allegion (NYSE:ALLE - Get Free Report) had its price objective increased by research analysts at Wells Fargo & Company from $175.00 to $185.00 in a report released on Monday,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 indicates a potential upside of 4.00% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. Barclays boosted their target price on Allegion from $163.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. 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. 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 report on Friday, July 11th. Zacks Research cut Allegion from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Allegion in a report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $174.25.

Allegion Price Performance

Shares of ALLE opened at $177.88 on Monday. The company has a market capitalization of $15.27 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 3.81 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The business's 50-day moving average is $170.96 and its 200-day moving average is $149.98. Allegion has a fifty-two week low of $116.57 and a fifty-two week high of $180.34.

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 16.15% and a return on equity of 42.62%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. During the same quarter last year, the business posted $1.96 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. Equities research analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Insider Activity at Allegion

In related news, SVP Timothy P. Eckersley sold 10,810 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $1,781,055.60. Following the completion of the transaction, the senior vice president directly owned 30,023 shares of the company's stock, valued at approximately $4,946,589.48. This represents a 26.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tracy L. Kemp sold 3,849 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the sale, the senior vice president owned 8,773 shares in the company, valued at approximately $1,446,843.16. This trade represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALLE. Wayfinding Financial LLC bought a new stake in Allegion during the 1st quarter worth about $30,000. Sound Income Strategies LLC acquired a new stake in shares of Allegion in the 2nd quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in Allegion during the second quarter worth $33,000. Spire Wealth Management grew its holdings in Allegion by 78.0% during the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company's stock worth $34,000 after purchasing an additional 103 shares during the period. Finally, Garde Capital Inc. bought a new position in Allegion during the first quarter worth about $36,000. 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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