Wells Fargo Reaffirms Their Hold Rating on Allegion (ALLE)
In a report released on December 11, Joe O’Dea from Wells Fargo maintained a Hold rating on Allegion, with a price target of $185.00. The company’s shares closed last Friday at $164.71.
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O’Dea covers the Industrials sector, focusing on stocks such as 3M, Dover, and Lennox International. According to TipRanks, O’Dea has an average return of 11.1% and a 63.10% success rate on recommended stocks.
Allegion has an analyst consensus of Hold, with a price target consensus of $183.75, which is an 11.56% upside from current levels. In a report released on December 4, Barclays also maintained a Hold rating on the stock with a $187.00 price target.
Based on Allegion’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.07 billion and a net profit of $188.4 million. In comparison, last year the company earned a revenue of $967.1 million and had a net profit of $174.2 million
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALLE in relation to earlier this year.
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