Allegion (NYSE:ALLE) Downgraded by Credit Suisse Group

Credit Suisse Group cut shares of Allegion (NYSE:ALLE) from an outperform rating to a neutral rating in a research note issued to investors on Monday, Benzinga reports. The firm currently has $112.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $108.00. The analysts noted that the move was a valuation call.

Several other analysts have also recently issued reports on the company. Imperial Capital cut Lionsgate to an in-line rating and dropped their target price for the company from $24.00 to $16.00 in a report on Monday, April 29th. Bank of America set a $10.00 target price on HEXO and gave the company a buy rating in a report on Thursday, June 13th. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Finally, Morgan Stanley set a $10.00 target price on Ford Motor and gave the company a hold rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $103.50.

Shares of NYSE:ALLE opened at $109.27 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.14 and a debt-to-equity ratio of 2.20. The company has a fifty day moving average of $105.20. The stock has a market cap of $10.27 billion, a PE ratio of 23.87, a P/E/G ratio of 1.95 and a beta of 1.18. Allegion has a 52-week low of $74.83 and a 52-week high of $111.99.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The company had revenue of $655.00 million during the quarter, compared to analysts’ expectations of $654.66 million. Allegion had a return on equity of 72.88% and a net margin of 15.97%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Analysts predict that Allegion will post 4.85 EPS for the current year.

In other news, SVP Jeffrey N. Braun sold 6,218 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $104.44, for a total value of $649,407.92. Following the transaction, the senior vice president now owns 13,394 shares of the company’s stock, valued at approximately $1,398,869.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jeffrey M. Wood sold 5,357 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $99.17, for a total value of $531,253.69. Following the completion of the transaction, the senior vice president now directly owns 6,642 shares in the company, valued at approximately $658,687.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,611 shares of company stock worth $1,498,349. Corporate insiders own 0.77% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Allegion during the 4th quarter worth about $67,509,000. BlackRock Inc. lifted its stake in Allegion by 9.9% during the 1st quarter. BlackRock Inc. now owns 7,585,468 shares of the scientific and technical instruments company’s stock worth $688,079,000 after acquiring an additional 685,215 shares in the last quarter. Ardevora Asset Management LLP acquired a new position in Allegion during the 1st quarter worth about $34,796,000. AKO Capital LLP lifted its stake in Allegion by 20.5% during the 1st quarter. AKO Capital LLP now owns 1,754,663 shares of the scientific and technical instruments company’s stock worth $159,165,000 after acquiring an additional 299,089 shares in the last quarter. Finally, FMR LLC lifted its stake in Allegion by 13.5% during the 1st quarter. FMR LLC now owns 1,815,943 shares of the scientific and technical instruments company’s stock worth $164,724,000 after acquiring an additional 215,361 shares in the last quarter. 93.47% of the stock is currently owned by institutional investors and hedge funds.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

Read More: Why Invest in Dividend Achievers?

Analyst Recommendations for Allegion (NYSE:ALLE)

Receive News & Ratings for Allegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion and related companies with MarketBeat.com's FREE daily email newsletter.