Allegion (NYSE:ALLE) Price Target Raised to $152.00 at Robert W. Baird

Allegion (NYSE:ALLE) had its target price upped by investment analysts at Robert W. Baird from $145.00 to $152.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s price target points to a potential upside of 4.63% from the company’s current price.

Several other analysts also recently weighed in on ALLE. Barclays upped their price objective on Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Mizuho raised their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $144.20.

Allegion Price Performance

Shares of NYSE:ALLE opened at $145.27 on Friday. The firm has a 50 day moving average of $142.11 and a 200-day moving average of $130.11. Allegion has a 12 month low of $95.94 and a 12 month high of $156.10. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $12.70 billion, a PE ratio of 23.70, a PEG ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same period last year, the firm posted $1.94 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Allegion will post 7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently modified their holdings of the business. Norden Group LLC acquired a new position in shares of Allegion in the 1st quarter worth approximately $2,271,000. BNP Paribas Financial Markets lifted its holdings in shares of Allegion by 90.7% in the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after purchasing an additional 57,832 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Allegion by 5.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock worth $29,074,000 after acquiring an additional 10,896 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Allegion by 22.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company’s stock valued at $14,157,000 after buying an additional 19,570 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Allegion during the second quarter worth $3,762,000. Institutional investors and hedge funds 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.