Allegion (NYSE:ALLE) Downgraded to “Hold” at ValuEngine

Allegion (NYSE:ALLE) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Co raised their price target on shares of Allegion from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday. Bank of America raised their price target on shares of Allegion from $114.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Morgan Stanley set a $100.00 price target on shares of Allegion and gave the stock a “hold” rating in a research note on Friday, April 26th. Imperial Capital raised their price target on shares of Allegion from $102.00 to $105.00 and gave the stock an “in-line” rating in a research note on Tuesday. Finally, Barclays raised their price target on shares of Allegion from $105.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $105.88.

ALLE traded down $1.06 during midday trading on Thursday, reaching $102.48. 1,068,599 shares of the company’s stock were exchanged, compared to its average volume of 740,102. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18. The company has a quick ratio of 1.12, a current ratio of 1.71 and a debt-to-equity ratio of 2.10. Allegion has a one year low of $74.83 and a one year high of $111.99. The company’s 50-day moving average is $108.03.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 25th. The scientific and technical instruments company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.05). The business had revenue of $731.20 million for the quarter, compared to the consensus estimate of $750.76 million. Allegion had a return on equity of 68.47% and a net margin of 15.65%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 EPS. Analysts predict that Allegion will post 4.85 EPS for the current fiscal year.

In other news, CAO Douglas P. Ranck sold 3,036 shares of Allegion stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $104.64, for a total value of $317,687.04. Following the completion of the transaction, the chief accounting officer now owns 5,442 shares in the company, valued at $569,450.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeffrey N. Braun sold 6,218 shares of Allegion stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $104.44, for a total transaction of $649,407.92. Following the completion of the transaction, the senior vice president now owns 13,394 shares of the company’s stock, valued at approximately $1,398,869.36. The disclosure for this sale can be found here. 0.77% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Allegion by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 524,977 shares of the scientific and technical instruments company’s stock valued at $41,844,000 after purchasing an additional 41,509 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Allegion by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 1,274,114 shares of the scientific and technical instruments company’s stock valued at $101,389,000 after purchasing an additional 103,030 shares during the period. Gotham Asset Management LLC bought a new stake in shares of Allegion in the fourth quarter valued at approximately $284,000. Norges Bank bought a new stake in shares of Allegion in the fourth quarter valued at approximately $67,509,000. Finally, Dorsey Wright & Associates raised its position in shares of Allegion by 2.9% in the first quarter. Dorsey Wright & Associates now owns 52,581 shares of the scientific and technical instruments company’s stock valued at $4,770,000 after purchasing an additional 1,484 shares during the period. Institutional investors own 93.40% 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 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Allegion (NYSE:ALLE)

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