Allegion (ALLE) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Allegion (NYSE:ALLE) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Several other equities analysts also recently commented on ALLE. Imperial Capital reissued an outperform rating and set a $94.00 target price (up from $85.00) on shares of Allegion in a research report on Wednesday, February 21st. Wells Fargo & Co reissued an outperform rating and set a $105.00 target price (up from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Barclays reissued an overweight rating and set a $103.00 target price (up from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Zacks Investment Research raised shares of Allegion from a hold rating to a strong-buy rating and set a $99.00 target price on the stock in a research report on Thursday, February 22nd. Finally, Berenberg Bank cut shares of Allegion from a buy rating to a hold rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $94.60.

Allegion stock opened at $77.88 on Thursday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.17 and a current ratio of 1.78. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05. Allegion has a one year low of $73.85 and a one year high of $89.81.



Allegion (NYSE:ALLE) last posted its earnings results on Thursday, April 26th. The scientific and technical instruments company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.04). The business had revenue of $613.10 million for the quarter, compared to analyst estimates of $605.47 million. Allegion had a return on equity of 102.62% and a net margin of 11.21%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. sell-side analysts predict that Allegion will post 4.48 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, June 14th. Allegion’s dividend payout ratio (DPR) is 21.21%.

A number of hedge funds have recently added to or reduced their stakes in ALLE. Teacher Retirement System of Texas bought a new stake in Allegion during the fourth quarter valued at about $2,079,000. California Public Employees Retirement System lifted its stake in shares of Allegion by 12.8% in the fourth quarter. California Public Employees Retirement System now owns 234,835 shares of the scientific and technical instruments company’s stock valued at $18,683,000 after buying an additional 26,616 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Allegion by 342.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 370,471 shares of the scientific and technical instruments company’s stock valued at $29,475,000 after buying an additional 286,708 shares during the period. Toronto Dominion Bank lifted its stake in shares of Allegion by 13.5% in the fourth quarter. Toronto Dominion Bank now owns 40,915 shares of the scientific and technical instruments company’s stock valued at $3,256,000 after buying an additional 4,871 shares during the period. Finally, State of Wisconsin Investment Board lifted its stake in shares of Allegion by 70.8% in the fourth quarter. State of Wisconsin Investment Board now owns 150,753 shares of the scientific and technical instruments company’s stock valued at $11,994,000 after buying an additional 62,493 shares during the period. Institutional investors own 87.95% of the company’s stock.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Allegion (NYSE:ALLE)

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