|Over a week ago|
Fly Intel: Top five analyst upgrades » 09:5509/1009/10/21
HBM, ALLE, RXN, CNO, EDIT
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Hudbay Minerals (HBM) upgraded to Outperform from Sector Perform at National Bank with analyst Shane Nagle saying the shares have declined 17% year-to-data on heightened political risks in Peru, but political risks will subside. 2. Allegion (ALLE) upgraded to Buy from Neutral at Goldman Sachs with analyst Joe Ritchie saying Allegion is a late cycle, non-residential manufacturer that is exposed to the "favorable thematic backdrop" of education stimulus. 3. Rexnord (RXN) upgraded to Buy from Neutral at Goldman Sachs with analyst Joe Ritchie saying Rexnord is a "high quality, water-levered story" with favorable non-residential exposure. 4. CNO Financial (CNO) upgraded to Overweight from Neutral at Piper Sandler with analyst John Barnidge thinking CNO will outperform the broader life insurance group over the next several quarters. 5. Editas Medicine (EDIT) upgraded to Outperform from Perform at Oppenheimer with analyst Jay Olson saying that he looks forward to EDIT-101 clinical results in LCA10, including safety data and preliminary efficacy endpoints, from low-dose and mid-dose cohorts at RD2021 this month, representing the first clinical data reported by Editas, and believes the cell medicine franchise and in vivo programs beyond ophthalmology offer upside in the longer term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Allegion upgraded to Buy from Neutral at Goldman Sachs » 04:5009/1009/10/21
Goldman Sachs analyst Joe…
Goldman Sachs analyst Joe Ritchie upgraded Allegion to Buy from Neutral with a price target of $174, up from $158, implying 20% upside from current levels. Allegion is a late cycle, non-residential manufacturer that is exposed to the "favorable thematic backdrop" of education stimulus, Ritchie tells investors in a research note. The analyst believes the company is "well poised to compound value over time" as its line growth is complemented with improving mix and fading temporary cost headwinds.
|Over a month ago|
Allegion acquires European software companies, terms undisclosed » 07:2907/2907/29/21
Allegion has acquired,…
Allegion has acquired, through its subsidiaries, certain assets of Astrum Benelux B.V. as well as privately held WorkforceIT B.V. Astrum Benelux B.V. and WorkforceIT B.V. are workforce management technology companies in the Benelux region of Europe. Astrum Benelux B.V. is a long-standing sales, distribution and development partner for both Allegion and its European workforce management brand, Interflex. Astrum Benelux B.V. and WorkforceIT B.V. serve as authorized Benelux region resellers of Interflex's SP-EXPERT software, a modern and flexible advanced workforce management solution that allows users to schedule and deploy employees to the right place at the right time.
Allegion price target raised to EUR 176 from EUR 165 at Barclays » 11:1407/2307/23/21
Barclays analyst Julian…
Barclays analyst Julian Mitchell raised the firm's price target on Allegion to EUR 176 from EUR 165 and keeps an Overweight rating on the shares.
Allegion raises FY21 adjusted EPS view to $5.25-$5.40 from $5.00-$5.15 » 05:3507/2207/22/21
Consensus $5.24. Raises…
Consensus $5.24. Raises FY21 revenue view to up 7%-7.5% from up 3%-4%, consensus $2.86B. Adjustments to 2021 EPS include estimated impacts of 10c per share for restructuring and acquisition and integration expenses. The outlook includes incremental investment of approximately 20c per share; assumes a full-year adjusted effective tax rate of approximately 12% and assumes an average diluted share count for the full year of approximately 91M shares. The company is also raising its outlook for full-year available cash flow to approximately $490M to $510M. "Global macroeconomic indicators and construction indices continue to be positive, and demand has rebounded faster than anticipated," Petratis added. "This heightened demand has led to global supply chain pressures that will temper the pace of recovery for the remainder of the year. We have stepped up our strategic investments and partnerships and believe those actions, paired with our demonstrated abilities in supply chain management, position us well to emerge from the pandemic strong as the market migrates to seamless access solutions."
Allegion reports Q2 adjusted EPS $1.32, consensus $1.29 » 05:3207/2207/22/21
Reports Q2 revenue…
Reports Q2 revenue $746.9M, consensus $708.47M. "I'm encouraged by the robust customer demand and solid results delivered by our business in the second quarter," said David Petratis, Allegion chairman, president and CEO. "We continue to see the benefits of the newly formed Allegion International reporting segment, including Q2 growth in the core business, strong execution and focus. Our Allegion Americas business experienced continued strength in residential, and non-residential returned to growth, driven by retrofit, repair and small projects. I'm also pleased with the growth in electronics and the margin expansion our company delivered against macroeconomic challenges like increased commodity, freight and labor inflation, as well as shortages in parts and labor."
|Over a quarter ago|
Allegion raises FY21 adjusted EPS view to $5.00-$5.15 from $4.70-$4.85 » 06:1704/2204/22/21
Consensus $4.89. The…
Consensus $4.89. The company is also raising its FY21 revenue outlook and now expects reported revenue to increase 3%-4% and organic revenue to be up 2% to 3%, when compared with 2020, after excluding the expected impacts of acquisitions, divestitures and foreign currency movements. The company is also raising its outlook for full-year available cash flow to approximately $430M to $450M from $400M-$420M. CEO David Petratis says: "Global macroeconomic indicators and construction indices continue to improve, and I am increasingly optimistic on the economic recovery. The fundamentals of the business are strong, with demand improving throughout the quarter. Although we expect ongoing supply chain and inflationary pressures, we are confident we can continue to meet improving customer demand. Our strategic investments are serving us well and, we believe, will position us to emerge strong as the market migrates to seamless access solutions and as commercial and institutional projects move forward."
Allegion reports Q1 adjusted EPS $1.20, consensus $1.02 » 06:1504/2204/22/21
Reports Q1 revenue…
Reports Q1 revenue $694.3M, consensus $649.76M. "Allegion is off to a great start in 2021. We delivered solid top-line growth and margin expansion against a tough comparable from the first quarter of last year," said David D. Petratis, Allegion chairman, president and CEO. "The Allegion International business has continued to rebound and meet increased demand, while the Americas residential business remained strong. I am also pleased with the margin expansion delivered as cost reduction and mitigation actions taken last year continue to provide benefits."
Allegion files automatic mixed securities shelf 16:3404/1404/14/21
Fly Intel: Top five analyst upgrades » 09:5304/0604/06/21
WYNN, ALLE, HBM, PARR, UAL
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wynn Resorts (WYNN) upgraded to Buy from Hold at Argus with analyst John Staszak saying the upgrade reflects the recovery in the company's Las Vegas business and growth in its Boston operations as more COVID vaccines are rolled out and leisure travel returns. 2. Allegion (ALLE) double upgraded to Overweight from Underweight saying Allegion's risk/reward "looks significantly more attractive today versus many other names in our sector." 3. Hudbay Minerals (HBM) upgraded to Buy from Underperform at BofA with analyst Lawson Winder citing the company's announcement of improved life of mine plans for its Snow Lake and Constancia mines, the "encouraging" initial drill properties in Arizona, and the copper growth optionality from the more recently identified Constancia satellite monetization and the Mason project in Nevada. 4. Par Pacific (PARR) upgraded to Buy from Neutral at Goldman Sachs with analyst Neil Mehta saying he has a "constructive view" on the oil demand recovery in the medium term. 5. United Airlines (UAL) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Ravi Shanker saying given his contention that 2022 consensus numbers are too low for the U.S. Airlines group given his view of strong volume and cost tailwinds. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.