Allegion (NYSE:ALLE) Price Target Raised to $156.00

Allegion (NYSE:ALLE) had its target price raised by Barclays from $135.00 to $156.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the scientific and technical instruments company’s stock.

Several other research firms have also recently weighed in on ALLE. JPMorgan Chase & Co. assumed coverage on Allegion in a report on Tuesday, June 24th. They issued an “overweight” rating and a $170.00 price objective for the company. Robert W. Baird raised their price target on Allegion from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley lifted their price target on shares of Allegion from $139.00 to $151.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Wells Fargo & Company upped their price objective on shares of Allegion from $150.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, The Goldman Sachs Group raised their target price on shares of Allegion from $149.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.57.

Allegion Trading Up 1.1%

NYSE:ALLE opened at $165.47 on Friday. The firm has a market capitalization of $14.24 billion, a P/E ratio of 22.98, a P/E/G ratio of 4.01 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.30 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average of $144.55 and a 200 day moving average of $135.44. Allegion has a 52 week low of $116.57 and a 52 week high of $166.22.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $999.10 million. Allegion had a net margin of 16.15% and a return on equity of 42.62%. Allegion’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 earnings per share. On average, research analysts predict that Allegion will post 7.77 earnings per share for the current year.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALLE. Sound Income Strategies LLC purchased a new stake in shares of Allegion in the 2nd quarter worth approximately $32,000. Wayfinding Financial LLC purchased a new position in Allegion during the first quarter valued at $30,000. Colonial Trust Co SC boosted its holdings in Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 164 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Allegion in the first quarter worth $36,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Allegion by 91.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

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.