Allegion Got Some Good News

By Jason Carr

In a report released today, Jeff Kessler from Imperial Capital upgraded Allegion (NYSE: ALLE) to Buy, with a price target of $72. The company’s shares closed yesterday at $63.84.

According to TipRanks.com, Kessler is a 1-star analyst with an average return of -3.4% and a 46.4% success rate. Kessler covers the Technology sector, focusing on stocks such as Verint Systems Inc., Digimarc Corp., and Control4 Corp.

Allegion has an analyst consensus of Moderate Buy, with a price target consensus of $81.

Based on Allegion’s latest earnings report from March 31, the company posted quarterly revenue of $502.3M and quarterly net profit of $57.7M. In comparison, last year the company earned revenue of $544.5M and had a net profit of -$27.3M.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, Feng William Yu, the SVP of ALLE sold 21,535 shares for a total of $1,567,748.

Allegion Plc engages in the manufacture and sale of mechanical and electronic security products and solutions. It operates through the following geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment offers a broad range of products and solutions such as locks; locksets; key systems; door closers; exit devices; door and door frames; and electronic product and access control systems and its brands include Schlage, Von Duprin, and LCN. The EMEIA segment offers the same portfolio of products as the Americas segment as well as time and attendance and workforce productivity solutions. The Asia Pacific segment also provides the same product portfolio in addition to video analytics solutions. Its strategic brands include Schlage, CISA, Von Duprin, and LCN. The company was founded on May 9, 2013 and is headquartered in Dublin, Ireland.