Allegion (NYSE:ALLE) Given New $157.00 Price Target at Bank of America
by Teresa Graham · The Cerbat GemAllegion (NYSE:ALLE – Get Free Report) had its price objective reduced by stock analysts at Bank of America from $185.00 to $157.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the scientific and technical instruments company’s stock. Bank of America‘s price objective would indicate a potential upside of 8.72% from the company’s previous close.
Several other brokerages have also recently issued reports on ALLE. Wells Fargo & Company reduced their target price on Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Evercore raised Allegion to a “strong-buy” rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. JPMorgan Chase & Co. cut their target price on shares of Allegion from $190.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Finally, Barclays cut their target price on shares of Allegion from $176.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $168.88.
Allegion Price Performance
NYSE:ALLE opened at $144.41 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.84 and a debt-to-equity ratio of 0.96. The business’s 50-day simple moving average is $152.69 and its two-hundred day simple moving average is $161.36. The stock has a market cap of $12.44 billion, a PE ratio of 19.41, a P/E/G ratio of 3.12 and a beta of 1.02. Allegion has a 52 week low of $122.14 and a 52 week high of $183.11.
Allegion (NYSE:ALLE – Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.07). Allegion had a net margin of 15.83% and a return on equity of 38.06%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business earned $1.86 earnings per share. Allegion’s revenue was up 9.3% compared to the same quarter last year. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, analysts forecast that Allegion will post 7.77 EPS for the current fiscal year.
Insider Activity
In related news, Director Sue Main purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at approximately $299,220. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven Mizell sold 1,000 shares of Allegion stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $161.51, for a total value of $161,510.00. Following the completion of the transaction, the director owned 4,915 shares of the company’s stock, valued at approximately $793,821.65. This represents a 16.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Andina Capital Management LLC purchased a new position in Allegion in the first quarter worth about $359,000. Vaughan Nelson Investment Management L.P. grew its position in Allegion by 22.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 153,511 shares of the scientific and technical instruments company’s stock worth $22,304,000 after acquiring an additional 28,355 shares in the last quarter. Hsbc Holdings PLC grew its position in Allegion by 2.9% in the fourth quarter. Hsbc Holdings PLC now owns 34,469 shares of the scientific and technical instruments company’s stock worth $5,527,000 after acquiring an additional 956 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Allegion by 16.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 19,372 shares of the scientific and technical instruments company’s stock worth $3,085,000 after acquiring an additional 2,717 shares in the last quarter. Finally, PEAK6 LLC purchased a new position in Allegion in the fourth quarter worth about $366,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
About Allegion
Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is headquartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.
The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.