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Have you been paying attention to shares of Allegion (ALLE)? Shares have been on the move with the stock up 8.4% over the past month. The stock hit a new 52-week high of $144.49 in the previous session. Allegion has gained 13.2% since the start of the year compared to the 9.7% move for the Zacks Industrial Products sector and the 21.4% return for the Zacks Security and Safety Services industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on July 24, 2024, Allegion reported EPS of $1.96 versus consensus estimate of $1.77 while it beat the consensus revenue estimate by 2.26%.
For the current fiscal year, Allegion is expected to post earnings of $7.26 per share on $3.76 billion in revenues. This represents a 4.31% change in EPS on a 3.11% change in revenues. For the next fiscal year, the company is expected to earn $7.55 per share on $3.88 billion in revenues. This represents a year-over-year change of 4.06% and 2.98%, respectively.
Valuation Metrics
Allegion may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Allegion has a Value Score of C. The stock's Growth and Momentum Scores are B and C, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 19.8X current fiscal year EPS estimates, which is not in-line with the peer industry average of 22.6X. On a trailing cash flow basis, the stock currently trades at 17.2X versus its peer group's average of 16.2X. Additionally, the stock has a PEG ratio of 4.4. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Allegion currently has a Zacks Rank of #2 (Buy) thanks to favorable earnings estimate revisions from covering analysts.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Allegion passes the test. Thus, it seems as though Allegion shares could have potential in the weeks and months to come.
Zacks Investment Research
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
Growth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
What if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Allegion (ALLE)
Headquartered in Dublin, Ireland, Allegion plc is a leading global provider of security products and solutions for business and domestic purposes. It came into existence on Dec 1, 2013, as a stand-alone public company, after Ingersoll-Rand plc separated its commercial and residential security businesses. Exiting 2023, the company had an employee base of 12,400 people.
ALLE is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. ALLE has a Growth Style Score of B, forecasting year-over-year earnings growth of 4.3% for the current fiscal year.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.17 to $7.26 per share. ALLE also boasts an average earnings surprise of 10.3%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, ALLE should be on investors' short list.
Zacks Investment Research
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegion (ALLE) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Allegion is one of 219 companies in the Industrial Products group. The Industrial Products group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Allegion is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLE's full-year earnings has moved 2.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALLE has returned about 8.2% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 4.7%. As we can see, Allegion is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, DXP Enterprises (DXPE), has outperformed the sector so far this year. The stock's year-to-date return is 42.4%.
The consensus estimate for DXP Enterprises' current year EPS has increased 12.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Allegion belongs to the Security and Safety Services industry, a group that includes 20 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, this group has gained an average of 16.6% so far this year, meaning that ALLE is slightly underperforming its industry in terms of year-to-date returns.
In contrast, DXP Enterprises falls under the Manufacturing - General Industrial industry. Currently, this industry has 44 stocks and is ranked #170. Since the beginning of the year, the industry has moved +4.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Allegion and DXP Enterprises as they attempt to continue their solid performance.
Zacks Investment Research
Fund manager Matthew Tuttle made waves in the ETF space for his unique funds that offer ways for investors to get leveraged exposure or bet against well-known financial figures like Jim Cramer and Cathie Wood.
Tuttle is back with a new fund that gives investors a way to invest in companies that are not meeting ESG (environmental, social, and governance) requirements.
What Happened: Tuttle Capital Management launched the ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF E, a new ETF that gives investors a way to invest in companies that "focus on profits, not politics or trendy activisms of the moment."
"ESGX allows investors to choose a portfolio of companies that follow the comment sense notion that companies that focus on profits are better for investors than companies that don't," a press release for the fund reads.
The ETF follows the AJN Shareholders First Index, which tracks a portfolio of U.S. companies that meet the requirement of focusing on profits and ignoring politics and "trendy activisms of the moment."
"Too many companies today put ESG and DEI politics first and their shareholders' profits last," Tuttle Capital CEO Matthew Tuttle said. "ESG has become a way for liberal executives and large investors to enact social changes that they can't pass at the ballot box."
Tuttle said CEOs can be pressured to "cave to the trendy politics of the moment," and often times this is not in the best interest of shareholders.
"That's why we launched ESGX – to put shareholders and profits first."
Tuttle added that investors had limited options of ways to invest in companies that put profits ahead of politics before the ETF launched.
As of Sept. 9, the following were the top holdings in the ESGX ETF:
The ETF launch comes after companies like Anheuser-Busch InBev , Planet Fitness , Target Corporation and others have been accused by consumers and investors of focusing too heavily on ESG and DEI policies and "going woke" instead of worrying about financial growth and returns for shareholders.
Read Also: Nancy Pelosi Among ‘Best Of The Best’ In Stock Trading: New Congress Trading ETF Coming From Creator Of Anti-Cathie Wood, Jim Cramer Funds
Self Defense ETF Also Launches: Tuttle Capital also launched the Spinnaker ETF Series Tuttle Capital Self Defense Index ETF G Tuesday.
The fund invests in companies that are engaged in self-defense, with a belief that the United States is becoming less safe.
The ETF invests in companies that manufacture, service, supply and distribute personal and law enforcement defense equipment and protection services. The fund tracks the AJN Self Defense U.S. Equity Index.
"Americans feel less safe and feel there is more crime in the country now than last year. Many Americans are taking self defense into their own hands," Tuttle said.
Tuttle added that shares of gun manufacturers have also risen after the assassination attempt on former President Donald Trump.
"Gun sales have rebounded after nearly three years of continuous decline and firearms manufacturers world wide have seen their stock surge after the terrorist attack on Israel and the Trump assassination attempt."
As of Sept. 9, the following were the top holdings in the GUNZ ETF:
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors looking for stocks in the Security and Safety Services sector might want to consider either Brady (BRC) or Allegion (ALLE). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
Brady and Allegion are both sporting a Zacks Rank of # 2 (Buy) right now. This means that both companies have witnessed positive earnings estimate revisions, so investors should feel comfortable knowing that both of these stocks have an improving earnings outlook. However, value investors will care about much more than just this.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
BRC currently has a forward P/E ratio of 15.97, while ALLE has a forward P/E of 18.53. We also note that BRC has a PEG ratio of 2.07. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ALLE currently has a PEG ratio of 4.13.
Another notable valuation metric for BRC is its P/B ratio of 3.23. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, ALLE has a P/B of 8.23.
These metrics, and several others, help BRC earn a Value grade of B, while ALLE has been given a Value grade of C.
Both BRC and ALLE are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that BRC is the superior value option right now.
Zacks Investment Research
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