Allegion (NYSE:ALLE) Price Target Raised to $152.00 at Wells Fargo & Company

Allegion (NYSE:ALLE) had its price objective hoisted by analysts at Wells Fargo & Company from $137.00 to $152.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 4.27% from the company’s previous close.

Several other brokerages have also recently weighed in on ALLE. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Barclays raised their price objective on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and a consensus target price of $132.00.

Allegion Trading Up 0.1 %

Shares of ALLE stock traded up $0.16 during trading hours on Monday, reaching $145.77. The company had a trading volume of 221,336 shares, compared to its average volume of 691,333. The company has a 50 day moving average of $137.19 and a 200 day moving average of $128.51. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 4.38 and a beta of 1.12. Allegion has a 1-year low of $95.94 and a 1-year high of $146.76.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same quarter last year, the business posted $1.76 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Allegion will post 7.26 EPS for the current year.

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Azzad Asset Management Inc. ADV raised its position in shares of Allegion by 1.4% in the third quarter. Azzad Asset Management Inc. ADV now owns 25,361 shares of the scientific and technical instruments company’s stock valued at $3,696,000 after buying an additional 362 shares in the last quarter. GAMMA Investing LLC raised its position in Allegion by 66.2% during the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 129 shares in the last quarter. Czech National Bank raised its position in Allegion by 6.5% during the third quarter. Czech National Bank now owns 17,748 shares of the scientific and technical instruments company’s stock valued at $2,587,000 after purchasing an additional 1,085 shares in the last quarter. Thrive Wealth Management LLC raised its position in Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after purchasing an additional 88 shares in the last quarter. Finally, JLB & Associates Inc. grew its stake in shares of Allegion by 2.1% during the third quarter. JLB & Associates Inc. now owns 30,173 shares of the scientific and technical instruments company’s stock worth $4,397,000 after buying an additional 618 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Company Profile

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.