Allegion (NYSE:ALLE) Stock Rating Upgraded by StockNews.com

Allegion (NYSE:ALLE) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other research analysts have also issued reports on ALLE. Robert W. Baird cut their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Barclays reduced their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley upped their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegion has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Stock Performance

Shares of Allegion stock opened at $129.45 on Tuesday. The business has a 50-day moving average price of $130.76 and a two-hundred day moving average price of $137.38. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The company has a market cap of $11.17 billion, a P/E ratio of 18.98, a PEG ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. As a group, analysts anticipate that Allegion will post 7.77 EPS for the current year.

Insider Buying and Selling at Allegion

In other news, Director Gregg C. Sengstack acquired 8,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $1,001,920. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

Hedge funds have recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Allegion during the third quarter valued at approximately $28,000. Millstone Evans Group LLC bought a new position in Allegion in the 4th quarter valued at $28,000. Concord Wealth Partners purchased a new stake in shares of Allegion during the 3rd quarter valued at $29,000. Colonial Trust Co SC raised its stake in shares of Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares during the period. Finally, Atala Financial Inc purchased a new position in shares of Allegion in the 4th quarter worth about $35,000. Institutional investors 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.