Allegion PLC (ALLE) is Downgraded by Imperial Capital to In-line, Raises Price Target to $ 79

Allegion PLC (ALLE) was Downgraded by Imperial Capital to ” In-line” according to the research note released today. The brokerage firm has raised the Price Target to $ 79 from a previous price target of $71 . Earlier the firm had a rating of “Outperform ” on the company shares. Imperial Capital advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Allegion PLC. Allegion PLC was Downgraded by CLSA to ” Outperform” on Jul 25, 2016. Goldman Initiated Allegion PLC on Jun 10, 2016 to “Buy”, Price Target of the shares are set at $78.

On the company’s financial health, Allegion PLC reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.90. The company had revenue of $584.90 million for the quarter, compared to analysts expectations of $574.08 million. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Allegion PLC closed down -0.39 points or -0.54% at $72.39 with 9,63,955 shares getting traded on Friday. Post opening the session at $72.82, the shares hit an intraday low of $72.19 and an intraday high of $73.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 1, 2016, Timothy P Eckersley (Sr. Vice President) sold 10,000 shares at $72.36 per share price. According to the SEC, on Aug 1, 2016, Douglas P Ranck (V. President/Controller) sold 9,300 shares at $72.90 per share price. On May 11, 2016, Raymond H Jr Lewis (Sr. V. President – HR & Comm.) sold 1,278 shares at $66.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Allegion plc is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its products include door closers and controls electronic security products exit devices time attendance and workforce productivity systems door and door frames (steel) electronic and biometric access control systems locks locksets and key systems video analytics systems and other accessories. The Company’s products also include an array of sealing systems such as sound control fire and smoke protection threshold applications lites door louvers intumescent products photo-luminescent and flood barrier for doors.It operates in three geographic segments: Americas; Europe Middle East India and Africa (EMEIA) and Asia Pacific. The Company’s brands include CISA FALCON Briton Schlage Bricard LCN Von Duprin STEELCRAFT NORMBAU and INAFER among others.

Allegion PLC

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