Barclays Issues Pessimistic Forecast for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its target price dropped by analysts at Barclays from $137.00 to $134.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price target points to a potential upside of 4.34% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Mizuho boosted their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley initiated coverage on shares of Allegion in a research note on Monday. They set an “equal weight” rating and a $137.00 target price for the company. Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Allegion currently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Trading Up 0.8 %

Shares of ALLE opened at $128.43 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a one year low of $113.27 and a one year high of $156.10. The stock has a 50-day moving average price of $137.44 and a 200 day moving average price of $135.75. The company has a market capitalization of $11.16 billion, a P/E ratio of 19.73, a P/E/G ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 EPS. Sell-side analysts forecast that Allegion will post 7.41 EPS for the current fiscal year.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John H. Stone acquired 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. McClarren Financial Advisors Inc. boosted its stake in Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Allegion by 0.4% in the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after buying an additional 77 shares during the period. Greenwich Wealth Management LLC boosted its stake in Allegion by 0.5% during the second quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after buying an additional 79 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Allegion by 2.9% during the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after acquiring an additional 82 shares during the period. Finally, Thrive Wealth Management LLC raised its position in Allegion by 5.0% in the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock worth $269,000 after acquiring an additional 88 shares in 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.