Allegion PLC (NYSE:ALLE) Receives $122.00 Consensus Target Price from Analysts

Shares of Allegion PLC (NYSE:ALLE) have been assigned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $122.00.

Several equities analysts have commented on the company. Morgan Stanley dropped their target price on Allegion from $129.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 17th. Credit Suisse Group raised Allegion from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $118.00 to $112.00 in a research note on Tuesday, March 10th. Bank of America lowered Allegion from a “buy” rating to a “neutral” rating and set a $140.00 price target for the company. in a research report on Thursday, February 13th. Imperial Capital upped their target price on Allegion from $116.00 to $120.00 and gave the stock an “in-line” rating in a report on Friday, February 21st. Finally, Barclays downgraded Allegion from an “overweight” rating to an “equal weight” rating and set a $125.00 target price on the stock. in a report on Thursday, December 12th. They noted that the move was a valuation call.

In other news, CAO Douglas P. Ranck sold 3,525 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $133.97, for a total value of $472,244.25. Following the sale, the chief accounting officer now directly owns 2,450 shares in the company, valued at approximately $328,226.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David D. Petratis sold 42,631 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $129.69, for a total transaction of $5,528,814.39. Following the completion of the sale, the chief executive officer now owns 293,690 shares in the company, valued at $38,088,656.10. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Firestone Capital Management purchased a new stake in Allegion during the fourth quarter worth approximately $62,000. Americana Partners LLC bought a new position in shares of Allegion during the 4th quarter valued at about $28,000. Duncker Streett & Co. Inc. bought a new position in shares of Allegion during the 4th quarter valued at about $29,000. Shine Investment Advisory Services Inc. lifted its holdings in shares of Allegion by 953.3% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 316 shares of the scientific and technical instruments company’s stock valued at $39,000 after purchasing an additional 286 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Allegion during the 4th quarter valued at about $15,007,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

NYSE:ALLE traded up $4.53 during mid-day trading on Friday, reaching $89.45. The stock had a trading volume of 810,875 shares, compared to its average volume of 852,327. The business’s 50 day moving average is $119.22 and its 200 day moving average is $116.63. Allegion has a fifty-two week low of $77.37 and a fifty-two week high of $139.24. The stock has a market cap of $7.30 billion, a P/E ratio of 21.00, a PEG ratio of 1.81 and a beta of 1.20. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.98 and a quick ratio of 1.44.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.28. Allegion had a return on equity of 67.06% and a net margin of 14.08%. The company had revenue of $719.50 million during the quarter, compared to analyst estimates of $733.88 million. During the same period last year, the company posted $1.22 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that Allegion will post 5.1 EPS for the current year.

Allegion declared that its board has authorized a stock repurchase program on Thursday, February 6th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.32 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Allegion’s previous quarterly dividend of $0.27. Allegion’s dividend payout ratio is 26.18%.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile 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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Analyst Recommendations for Allegion (NYSE:ALLE)

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