Allegion’s (ALLE) Overweight Rating Reiterated at Barclays
Allegion (NYSE:ALLE)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays in a research report issued to clients and investors on Wednesday. They currently have a $103.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $100.00. Barclays’ price target would indicate a potential upside of 18.77% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Co reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $100.00) on shares of Allegion in a research note on Wednesday. Imperial Capital reaffirmed an “outperform” rating and set a $94.00 price objective (up previously from $85.00) on shares of Allegion in a research note on Wednesday. Zacks Investment Research cut shares of Allegion from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Wolfe Research raised shares of Allegion from a “market perform” rating to an “outperform” rating in a research note on Monday, October 30th. Finally, BidaskClub cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $95.20.
Shares of Allegion (NYSE ALLE) traded up $1.06 during trading hours on Wednesday, reaching $86.72. 1,168,828 shares of the company traded hands, compared to its average volume of 788,356. The stock has a market capitalization of $8,240.00, a PE ratio of 30.43, a P/E/G ratio of 1.39 and a beta of 1.10. Allegion has a 12 month low of $72.45 and a 12 month high of $89.81. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 3.79.
A number of hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB grew its stake in Allegion by 26.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 26,027 shares of the scientific and technical instruments company’s stock worth $2,071,000 after buying an additional 5,426 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Allegion by 2.4% in the 4th quarter. Handelsbanken Fonder AB now owns 686,000 shares of the scientific and technical instruments company’s stock worth $54,578,000 after buying an additional 16,000 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Allegion by 21,917.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 7,706 shares of the scientific and technical instruments company’s stock worth $8,064,000 after buying an additional 7,671 shares in the last quarter. We Are One Seven LLC purchased a new position in Allegion in the 4th quarter worth approximately $296,000. Finally, DF Dent & Co. Inc. purchased a new position in Allegion in the 4th quarter worth approximately $590,000. 89.78% of the stock is owned by institutional investors and hedge funds.
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Allegion Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric 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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