Zacks Investment Research upgraded shares of Allegion (NYSE:ALLE) from a sell rating to a hold rating in a research report released on Wednesday, December 27th.
According to Zacks, “Allegion continuously updates its products to keep up with shifting market preference toward electronic security products and solutions. The company’s acquisitions, divestitures, focus on innovation and solid footprint in emerging markets are encouraging. Further, a gradually recovering U.S. housing market bodes well. However, global currency fluctuations and the seasonality of the company's business is a drag. Also, earnings estimates for the current year and next have moved south by 0.5% each, over the past 60 days, reflecting analysts' concern.”
Several other equities research analysts also recently commented on ALLE. BidaskClub downgraded shares of Allegion from a buy rating to a hold rating in a research report on Saturday, October 28th. Wolfe Research raised shares of Allegion from a market perform rating to an outperform rating in a research report on Monday, October 30th. Wells Fargo & Co reaffirmed an outperform rating and issued a $100.00 price objective (up from $90.00) on shares of Allegion in a research report on Wednesday, October 18th. Finally, Robert W. Baird reaffirmed a hold rating on shares of Allegion in a research report on Tuesday, September 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $89.75.
Shares of Allegion (ALLE) opened at $82.60 on Wednesday. The firm has a market cap of $7,850.00, a price-to-earnings ratio of 23.47, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a quick ratio of 1.54, a current ratio of 2.14 and a debt-to-equity ratio of 3.79. Allegion has a one year low of $64.39 and a one year high of $89.81.
Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, meeting the consensus estimate of $1.02. Allegion had a net margin of 14.37% and a return on equity of 154.50%. The firm had revenue of $609.40 million for the quarter, compared to analyst estimates of $622.18 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. analysts forecast that Allegion will post 3.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, December 15th. Allegion’s payout ratio is currently 18.18%.
Institutional investors have recently bought and sold shares of the company. Tredje AP fonden purchased a new stake in shares of Allegion during the 2nd quarter valued at $105,000. QS Investors LLC grew its holdings in shares of Allegion by 1.2% during the 2nd 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 during the last quarter. Whittier Trust Co. grew its holdings in shares of Allegion by 94.2% during the 3rd 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 during the last quarter. YorkBridge Wealth Partners LLC bought a new position in shares of Allegion during the 3rd quarter valued at $107,000. Finally, Acrospire Investment Management LLC grew its holdings in shares of Allegion by 75.0% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
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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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