Allegion (NYSE:ALLE) Cut to “Neutral” at Credit Suisse Group
Credit Suisse Group lowered shares of Allegion (NYSE:ALLE) from an outperform rating to a neutral rating in a research note published on Monday, Benzinga reports. They currently have $112.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $108.00. The analysts noted that the move was a valuation call.
Other research analysts have also issued reports about the stock. Bank of America set a $10.00 price objective on shares of HEXO and gave the stock a buy rating in a research note on Thursday, June 13th. Imperial Capital lowered shares of Lionsgate to an in-line rating and decreased their price target for the company from $24.00 to $16.00 in a research note on Monday, April 29th. Morgan Stanley set a $10.00 price target on shares of Ford Motor and gave the company a hold rating in a research note on Friday, April 26th. Finally, ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Allegion currently has a consensus rating of Hold and a consensus target price of $103.50.
Shares of Allegion stock traded down $0.05 during trading on Monday, hitting $109.27. 397,928 shares of the stock were exchanged, compared to its average volume of 738,849. The firm has a market cap of $10.27 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.98 and a beta of 1.18. The stock has a fifty day moving average of $105.03. Allegion has a 1-year low of $74.83 and a 1-year high of $111.99. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.75 and a quick ratio of 1.14.
In other Allegion news, SVP Jeffrey M. Wood sold 5,357 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $99.17, for a total transaction of $531,253.69. Following the transaction, the senior vice president now owns 6,642 shares in the company, valued at approximately $658,687.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Douglas P. Ranck sold 3,036 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $104.64, for a total transaction of $317,687.04. Following the transaction, the chief accounting officer now owns 5,442 shares in the company, valued at approximately $569,450.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,611 shares of company stock worth $1,498,349. 0.77% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Gotham Asset Management LLC bought a new stake in shares of Allegion during the 4th quarter worth approximately $284,000. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Allegion during the 1st quarter worth approximately $220,000. FMR LLC lifted its holdings in shares of Allegion by 13.5% during the 1st quarter. FMR LLC now owns 1,815,943 shares of the scientific and technical instruments company’s stock worth $164,724,000 after acquiring an additional 215,361 shares during the period. Horizon Investments LLC bought a new stake in shares of Allegion during the 1st quarter worth approximately $232,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Allegion by 21.5% during the 1st quarter. SG Americas Securities LLC now owns 18,312 shares of the scientific and technical instruments company’s stock worth $1,661,000 after acquiring an additional 3,237 shares during the period. Hedge funds and other institutional investors own 93.47% of the company’s stock.
Allegion Company Profile
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.
Featured Story: What are popular green investing opportunities?
Receive News & Ratings for Allegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion and related companies with MarketBeat.com's FREE daily email newsletter.