Street Calls of the Week
Allegion (NYSE:ALLE) PLC stock has reached an all-time high, hitting 170.58 USD. This milestone marks a significant achievement for the security solutions provider, which boasts a market capitalization of $14.57 billion and an impressive 32.5% return over the past six months. According to InvestingPro analysis, the company maintains a perfect Piotroski Score of 9, indicating exceptional financial strength. Allegion PLC has experienced a notable increase in its stock value, with a 1-year return of 25.67%. This upward trend highlights investor confidence and the company’s robust financial health, reflected in its "GREAT" InvestingPro Financial Health Score and steady revenue growth of 5.49%. The new all-time high underscores Allegion’s growth and market resilience, positioning it favorably in the security solutions sector. Discover 12 additional key insights about ALLE with an InvestingPro subscription, including detailed valuation analysis and growth prospects.
In other recent news, Allegion reported second-quarter earnings that surpassed analyst expectations, driven by strong demand in non-residential markets. This positive performance highlights the company’s ability to capitalize on stabilizing conditions in key construction sectors. Additionally, Allegion has expanded its portfolio by acquiring Brisant Secure, a UK-based security hardware provider known for its Ultion brand. This acquisition is expected to bolster Allegion’s presence in the UK market by integrating Brisant Secure into its International segment. In another development, Barclays (LON:BARC) upgraded Allegion’s stock from Underweight to Equalweight, citing improved outlooks for non-residential construction markets. Barclays also raised its price target for the company to $163.00, reflecting a more optimistic view on Allegion’s future prospects. These recent developments indicate a period of strategic growth and market stabilization for Allegion.
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