Mizuho Increases Allegion (NYSE:ALLE) Price Target to $150.00

by · The Markets Daily

Allegion (NYSE:ALLE – Get Free Report) had its price objective increased by stock analysts at Mizuho from $135.00 to $150.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the scientific and technical instruments company’s stock. Mizuho’s price objective would indicate a potential downside of 2.19% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Barclays raised their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $133.80.

Read Our Latest Research Report on Allegion

Allegion Trading Up 0.6 %

NYSE ALLE opened at $153.36 on Thursday. The company has a fifty day simple moving average of $140.59 and a two-hundred day simple moving average of $129.61. The stock has a market cap of $13.41 billion, a P/E ratio of 25.02, a P/E/G ratio of 4.50 and a beta of 1.12. Allegion has a 12-month low of $95.94 and a 12-month high of $156.10. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40.

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

Institutional Trading of Allegion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC grew its position in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Gradient Investments LLC acquired a new stake in shares of Allegion in the second quarter valued at about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Allegion in the second quarter valued at about $39,000. Blue Trust Inc. grew its position in shares of Allegion by 54.0% in the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 121 shares during the period. Finally, Covestor Ltd grew its position in shares of Allegion by 255.7% in the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Company Profile

(Get Free Report)

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.

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