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

by · The Markets Daily

Allegion (NYSE:ALLE – Get Free Report) had its target price upped by investment analysts at Robert W. Baird from $145.00 to $152.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s price target points to a potential upside of 4.63% from the company’s current price.

Several other analysts also recently weighed in on ALLE. Barclays upped 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. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Mizuho raised their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $144.20.

Check Out Our Latest Report on Allegion

Allegion Price Performance

Shares of NYSE:ALLE opened at $145.27 on Friday. The firm has a 50 day moving average of $142.11 and a 200-day moving average of $130.11. 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. The stock has a market capitalization of $12.70 billion, a PE ratio of 23.70, a PEG ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE – Get Free Report) last announced its quarterly earnings data 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 net margin of 15.08% and a return on equity of 47.21%. The business had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same period last year, the firm posted $1.94 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Allegion will post 7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently modified their holdings of the business. Norden Group LLC acquired a new position in shares of Allegion in the 1st quarter worth approximately $2,271,000. BNP Paribas Financial Markets lifted its holdings in shares of Allegion by 90.7% in the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after purchasing an additional 57,832 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Allegion by 5.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock worth $29,074,000 after acquiring an additional 10,896 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Allegion by 22.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company’s stock valued at $14,157,000 after buying an additional 19,570 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Allegion during the second quarter worth $3,762,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

About Allegion

(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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