Allegion (NYSE:ALLE) Price Target Cut to $114.00

Allegion (NYSE:ALLEGet Rating) had its price target decreased by investment analysts at Mizuho from $125.00 to $114.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Mizuho’s price objective would indicate a potential upside of 25.79% from the company’s current price.

ALLE has been the topic of a number of other reports. The Goldman Sachs Group reduced their price target on Allegion from $140.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Wells Fargo & Company cut their target price on Allegion from $115.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. TheStreet downgraded Allegion from a “b-” rating to a “c+” rating in a research report on Tuesday, July 5th. Morgan Stanley upped their target price on Allegion from $115.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Finally, Bank of America downgraded Allegion from a “buy” rating to an “underperform” rating and cut their target price for the company from $130.00 to $110.00 in a research report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Allegion currently has an average rating of “Hold” and a consensus target price of $122.00.

Allegion Stock Performance

Shares of ALLE stock opened at $90.63 on Wednesday. The business’s fifty day simple moving average is $100.08 and its 200-day simple moving average is $105.60. The company has a market cap of $7.96 billion, a PE ratio of 17.43, a PEG ratio of 2.09 and a beta of 1.06. The company has a current ratio of 2.87, a quick ratio of 2.17 and a debt-to-equity ratio of 2.59. Allegion has a 12-month low of $89.01 and a 12-month high of $139.55.

Allegion (NYSE:ALLEGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The scientific and technical instruments company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The business had revenue of $773.10 million for the quarter, compared to the consensus estimate of $771.68 million. Allegion had a return on equity of 57.91% and a net margin of 15.89%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 earnings per share. Analysts expect that Allegion will post 5.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegion

Several hedge funds have recently modified their holdings of ALLE. Private Advisor Group LLC purchased a new stake in shares of Allegion during the 4th quarter worth about $205,000. Ensign Peak Advisors Inc lifted its stake in Allegion by 26.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 42,709 shares of the scientific and technical instruments company’s stock valued at $5,656,000 after buying an additional 8,966 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Allegion by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 630,784 shares of the scientific and technical instruments company’s stock valued at $83,541,000 after buying an additional 18,097 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Allegion by 71.7% in the 4th quarter. Renaissance Technologies LLC now owns 147,800 shares of the scientific and technical instruments company’s stock valued at $19,575,000 after buying an additional 61,700 shares in the last quarter. Finally, PEAK6 Investments LLC purchased a new position in Allegion in the 4th quarter valued at about $261,000. 91.06% of the stock is owned by hedge funds and other institutional investors.

Allegion Company Profile

(Get Rating)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.

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Analyst Recommendations for Allegion (NYSE:ALLE)

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