Wells Fargo & Company Has Lowered Expectations for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its target price lowered by equities researchers at Wells Fargo & Company from $185.00 to $175.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.81% from the stock’s current price.

ALLE has been the subject of a number of other reports. Zacks Research lowered Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Robert W. Baird raised their target price on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group upped their price target on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Barclays boosted their price objective on shares of Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $175.13.

Allegion Stock Performance

NYSE:ALLE traded down $3.69 on Tuesday, reaching $159.37. 137,340 shares of the company’s stock were exchanged, compared to its average volume of 930,877. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 3.14 and a beta of 1.03. Allegion has a 52 week low of $116.57 and a 52 week high of $180.68. The stock has a fifty day simple moving average of $167.19 and a 200-day simple moving average of $162.17.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.09. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, sell-side analysts predict that Allegion will post 7.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALLE. Public Sector Pension Investment Board raised its stake in shares of Allegion by 9.2% during the first quarter. Public Sector Pension Investment Board now owns 11,863 shares of the scientific and technical instruments company’s stock valued at $1,548,000 after acquiring an additional 1,001 shares during the last quarter. Aberdeen Group plc grew its position in shares of Allegion by 35.1% in the 1st quarter. Aberdeen Group plc now owns 65,276 shares of the scientific and technical instruments company’s stock worth $8,421,000 after buying an additional 16,950 shares during the last quarter. Ethic Inc. increased its stake in shares of Allegion by 1.2% during the first quarter. Ethic Inc. now owns 7,514 shares of the scientific and technical instruments company’s stock valued at $984,000 after buying an additional 87 shares during the period. American Century Companies Inc. raised its holdings in shares of Allegion by 1.6% during the first quarter. American Century Companies Inc. now owns 67,390 shares of the scientific and technical instruments company’s stock valued at $8,792,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in Allegion in the first quarter worth $425,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.