Allegion (NYSE:ALLE) Issues Earnings Results

Allegion (NYSE:ALLE) released its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12, Briefing.com reports. The firm had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 earnings per share. Allegion updated its FY 2024 guidance to 7.150-7.300 EPS and its FY24 guidance to $7.15-7.30 EPS.

Allegion Trading Up 3.9 %

Shares of ALLE opened at $132.88 on Friday. The stock’s 50-day moving average price is $120.01 and its 200 day moving average price is $125.14. The company has a quick ratio of 0.87, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. Allegion has a 12-month low of $95.94 and a 12-month high of $136.91. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 3.94 and a beta of 1.13.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. UBS Group upped their price target on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Barclays boosted their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $126.50.

Insider Activity at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the sale, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Allegion Company Profile

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.