Allegion PLC (ALLE) is Upgraded by CLSA to Buy

Allegion PLC (ALLE) was Upgraded by CLSA to ” Buy”. Earlier the firm had a rating of “Outperform ” on the company shares. CLSA advised their investors in a research report released on Oct 17, 2016.

Many Wall Street Analysts have commented on Allegion PLC. Company shares were Downgraded by Imperial Capital on Aug 2, 2016 to ” In-line”, Firm has raised the Price Target to $ 79 from a previous price target of $71 .Allegion PLC was Downgraded by CLSA to ” Outperform” on Jul 25, 2016.

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 opened for trading at $67.02 and hit $68.24 on the upside on Friday, eventually ending the session at $67.69, with a gain of 1.73% or 1.15 points. The heightened volatility saw the trading volume jump to 8,40,383 shares. Company has a market cap of $6,491 M.

In a different news, on Aug 2, 2016, Feng William Yu (Sr. Vice President) sold 21,535 shares at $72.80 per share price. According to the SEC, on Aug 1, 2016, Timothy P Eckersley (Sr. Vice President) sold 10,000 shares at $72.36 per share price. On Aug 1, 2016, Douglas P Ranck (V. President/Controller) sold 9,300 shares at $72.90 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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