Allegion (NYSE:ALLE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Allegion (NYSE:ALLE) had its price target lifted by equities researchers at Morgan Stanley from $137.00 to $139.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 10.89% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Robert W. Baird lowered their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays lowered their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $138.33.

Allegion Stock Performance

Shares of NYSE:ALLE traded down $0.55 during mid-day trading on Wednesday, reaching $125.34. 447,687 shares of the company traded hands, compared to its average volume of 845,751. The company’s 50 day moving average price is $132.14 and its 200-day moving average price is $137.42. The firm has a market cap of $10.90 billion, a PE ratio of 19.26, a PEG ratio of 3.29 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. On average, equities analysts expect that Allegion will post 7.42 EPS for the current fiscal year.

Insider Activity at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Allegion

Several hedge funds and other institutional investors have recently bought and sold shares of ALLE. Exchange Traded Concepts LLC purchased a new stake in Allegion during the 3rd quarter valued at $94,000. Creative Planning grew its position in Allegion by 9.1% in the 3rd quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock valued at $1,729,000 after acquiring an additional 988 shares during the last quarter. Bleakley Financial Group LLC bought a new position in Allegion in the 3rd quarter valued at $205,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Allegion by 4.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock valued at $1,260,000 after acquiring an additional 340 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Allegion by 44.9% in the 3rd quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company’s stock valued at $73,000 after acquiring an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Allegion

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.