Allegion PLC (NYSE:ALLE)‘s stock had its “outperform” rating reiterated by equities researchers at Wells Fargo & Company in a report released on Wednesday, October 18th, The Fly reports. They presently have a $100.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $90.00. Wells Fargo & Company’s price objective indicates a potential upside of 23.92% from the company’s current price.
Several other analysts have also commented on ALLE. BidaskClub upgraded shares of Allegion PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Wolfe Research assumed coverage on shares of Allegion PLC in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Robert W. Baird set a $85.00 target price on shares of Allegion PLC and gave the stock a “hold” rating in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $89.75.
Allegion PLC (ALLE) opened at 80.70 on Wednesday. Allegion PLC has a 1-year low of $61.47 and a 1-year high of $89.81. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 31.22 and a beta of 1.13. The firm’s 50 day moving average price is $85.34 and its 200-day moving average price is $80.78.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.02. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The firm had revenue of $609.40 million during the quarter, compared to analysts’ expectations of $622.18 million. During the same period in the prior year, the company posted $0.93 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Allegion PLC will post $3.79 earnings per share for the current year.
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In related news, insider Timothy P. Eckersley sold 12,782 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. grew its position in Allegion PLC by 94.2% during the third quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 600 shares in the last quarter. Tredje AP fonden purchased a new position in Allegion PLC during the second quarter valued at approximately $105,000. QS Investors LLC grew its position in Allegion PLC by 1.2% during the second quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock valued at $106,000 after purchasing an additional 16 shares in the last quarter. Acrospire Investment Management LLC grew its position in Allegion PLC by 75.0% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock valued at $114,000 after purchasing an additional 600 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Allegion PLC by 210.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 959 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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