Allegion (NYSE:ALLE) Announces Earnings Results, Beats Estimates By $0.12 EPS

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 the consensus estimate of $1.84 by $0.12, Briefing.com reports. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same quarter in the prior year, the company earned $1.76 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Allegion updated its FY 2024 guidance to 7.150-7.300 EPS and its FY24 guidance to $7.15-7.30 EPS.

Allegion Price Performance

Allegion stock opened at $132.88 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.87 and a current ratio of 1.66. Allegion has a 52 week low of $95.94 and a 52 week high of $136.91. The stock has a market capitalization of $11.62 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 3.94 and a beta of 1.13. The stock has a fifty day moving average of $120.01 and a 200-day moving average of $125.14.

Insider Activity at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

About Allegion

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.