Mizuho Maintains Buy Rating for Allegion: Here's What You Need To Know

Mizuho has decided to maintain its Buy rating of Allegion ALLE and raise its price target from $114.00 to $123.00.

Shares of Allegion are trading down 0.23% over the last 24 hours, at $113.25 per share.

A move to $123.00 would account for a 8.61% increase from the current share price.

About Allegion

Allegion is a global security products company with a portfolio of leading brands, such as Schlage, von Duprin, and LCN. The Ireland-domiciled company was created via a spinoff transaction from Ingersoll-Rand in December 2013. In fiscal 2021, Allegion generated 68% of sales in the United States. The company mainly competes with Sweden-based Assa Abloy AB and Switzerland-based Dormakaba.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.