Barclays Has Lowered Expectations for Allegion (NYSE:ALLE) Stock Price

Allegion (NYSE:ALLE) had its target price decreased by equities researchers at Barclays from $130.00 to $126.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s target price would suggest a potential downside of 2.74% from the stock’s current price.

Several other research analysts have also commented on the company. Morgan Stanley lifted their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird dropped their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $137.67.

Allegion Stock Performance

ALLE opened at $129.55 on Wednesday. The firm has a market capitalization of $11.18 billion, a PE ratio of 18.94, a PEG ratio of 3.97 and a beta of 1.11. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The firm’s 50-day moving average price is $129.72 and its 200 day moving average price is $136.38.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. As a group, sell-side analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregg C. Sengstack purchased 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David S. Ilardi sold 789 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the sale, the senior vice president now directly owns 9,625 shares in the company, valued at approximately $1,205,820. This represents a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,224 shares of company stock valued at $406,636. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Allegion by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after purchasing an additional 177,808 shares in the last quarter. Boston Partners lifted its position in Allegion by 11.6% in the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after purchasing an additional 488,390 shares during the period. State Street Corp boosted its stake in shares of Allegion by 1.2% in the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock valued at $589,659,000 after buying an additional 49,929 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Allegion by 1.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock valued at $509,313,000 after purchasing an additional 38,377 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock valued at $449,033,000 after acquiring an additional 257,175 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.