Goldman Sachs Initiates Coverage on Allegion PLC to Buy

Goldman Sachs Initiates Coverage on Allegion PLC(NYSE:ALLE). The shares have been rated Buy. The rating by Goldman Sachs was issued on Jun 10, 2016.

Allegion PLC (ALLE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.78% or 0.53 points. Due to strong positive momentum, the stock ended at $68.16, which is also near the day’s high of $68.42. The stock began the session at $68 and the volume stood at 7,01,607 shares. The 52-week high of the shares is $69.1 and the 52 week low is $52.95. The company has a current market capitalization of $6,525 M and it has 9,57,33,733 shares in outstanding.

Allegion PLC(ALLE) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $502.30M. Analysts had an estimated revenue of $502.18M. Earnings per share were $0.61. Analysts had estimated an EPS of $0.64.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, Raymond H Jr Lewis (Sr. V. President – HR & Comm.) sold 1,278 shares at $66.78 per share price.Also, On May 2, 2016, Dean I Schaffer (director) purchased 10 shares at $65.10 per share price.On Apr 8, 2016, Timothy P Eckersley (Sr. Vice President) sold 3,587 shares at $65.99 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.

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