Robert W. Baird Increases Allegion (NYSE:ALLE) Price Target to $152.00

Allegion (NYSE:ALLE) had its price objective upped by investment analysts at Robert W. Baird from $145.00 to $152.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s target price suggests a potential upside of 6.59% from the stock’s current price.

A number of other research analysts have also commented on ALLE. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Barclays raised their price objective on Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Mizuho raised their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment 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. Based on data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and a consensus price target of $144.20.

Allegion Stock Down 1.8 %

ALLE stock opened at $142.60 on Friday. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. The company has a 50-day moving average of $142.34 and a two-hundred day moving average of $130.15. Allegion has a 52-week low of $95.97 and a 52-week high of $156.10. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter last year, the firm posted $1.94 EPS. The company’s revenue was up 5.4% on a year-over-year basis. As a group, 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 have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Allegion in the third quarter worth $666,840,000. Millennium Management LLC lifted its position in Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after buying an additional 427,146 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Allegion during the 2nd quarter worth about $27,056,000. AXA S.A. increased its position in Allegion by 83.6% in the 2nd quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after acquiring an additional 151,013 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Allegion by 7.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after acquiring an additional 120,870 shares during the last quarter. 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.