We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Allegion Partners With European IoT Mobility Platform Again
Read MoreHide Full Article
In sync with its strategy to invest in new technologies, Allegion plc (ALLE - Free Report) made an equity investment in European Internet of Things (IoT) mobility platform developer, Conneqtech. This is the second time Allegion is partnering with Conneqtech. Earlier, the companies collaborated to develop AXA Connect, which enables cyclist to stay in contact with their bike via smartphone.
Moreover, this is also Allegion’s second European IoT investment in 2018. In February 2018, the company made a minority investment in European smart-home innovator, Nuki, specializing in providing smart lock solutions.
Allegion consistently focuses on investing in product development to keep up with the changing market sentiment toward electric security products and solutions. In fact, sales of electronic security products are growing at a steady rate compared wih traditional mechanical counterparts.
Conneqtech specializes in providing IoT solutions for bicycles and healthcare applications. Investing in the IoT platform is expected to substantially boost demand for Allegion’s products and revenues. The IoT is a growing market, connecting household and industrial devices. Everyday products and machines can now be embedded with sensor technology to process data or interact with other electronic devices.
Apart from this, Allegion has made a slew of acquisitions since the beginning of 2018 that has broadened its product portfolio as well as geographic footprint. In the first quarter of 2018, the company’s buyouts contributed 4.7% to the overall growth. Moreover, in 2017, acquisitions contributed 1.4% to revenue growth of 7.6%.
In March 2018, Allegion acquired the manufacturer of high-performance interior and healthcare door systems — Aurora Systems. In February, the company acquired one of Middle East’s largest manufacturers of commercial steel as well as wooden doors and frames, Qatar Metal Industries. With the addition of Qatar Metal, the company is able to expand code-compliant products to include doors in the Middle Eastern market. In January, Allegion acquired the leading North American manufacturer of advanced fire-rated entrance and wall systems, Technical Glass Products or TGP, which is expected to enhance the company’s core product lines.
Notably, Allegion’s inorganic drive and innovative products has boosted its performance as is evident from its price movement. The company’s shares have outperformed its industry so far this year. This Zacks Rank #3 (Hold) company is expected to sustain the momentum on the back of acquisitions and increased focus on innovation.
Some better-ranked stocks in the industry are Axon Enterprise, Inc. , MSA Safety Incorporated (MSA - Free Report) and Lakeland Industries, Inc. (LAKE - Free Report) . While Axon Enterprise and MSA Safety sport a Zacks Rank #1 (Strong Buy), Lakeland Industries carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Axon Enterprise is expected to witness 28.9% earnings growth in 2018.
MSA Safety’s 2018 earnings are expected to grow 23.6%.
Lakeland Industries is expected to witness 38.9% earnings growth in fiscal 2019.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Allegion Partners With European IoT Mobility Platform Again
In sync with its strategy to invest in new technologies, Allegion plc (ALLE - Free Report) made an equity investment in European Internet of Things (IoT) mobility platform developer, Conneqtech. This is the second time Allegion is partnering with Conneqtech. Earlier, the companies collaborated to develop AXA Connect, which enables cyclist to stay in contact with their bike via smartphone.
Moreover, this is also Allegion’s second European IoT investment in 2018. In February 2018, the company made a minority investment in European smart-home innovator, Nuki, specializing in providing smart lock solutions.
Allegion consistently focuses on investing in product development to keep up with the changing market sentiment toward electric security products and solutions. In fact, sales of electronic security products are growing at a steady rate compared wih traditional mechanical counterparts.
Conneqtech specializes in providing IoT solutions for bicycles and healthcare applications. Investing in the IoT platform is expected to substantially boost demand for Allegion’s products and revenues. The IoT is a growing market, connecting household and industrial devices. Everyday products and machines can now be embedded with sensor technology to process data or interact with other electronic devices.
Apart from this, Allegion has made a slew of acquisitions since the beginning of 2018 that has broadened its product portfolio as well as geographic footprint. In the first quarter of 2018, the company’s buyouts contributed 4.7% to the overall growth. Moreover, in 2017, acquisitions contributed 1.4% to revenue growth of 7.6%.
In March 2018, Allegion acquired the manufacturer of high-performance interior and healthcare door systems — Aurora Systems. In February, the company acquired one of Middle East’s largest manufacturers of commercial steel as well as wooden doors and frames, Qatar Metal Industries. With the addition of Qatar Metal, the company is able to expand code-compliant products to include doors in the Middle Eastern market. In January, Allegion acquired the leading North American manufacturer of advanced fire-rated entrance and wall systems, Technical Glass Products or TGP, which is expected to enhance the company’s core product lines.
Notably, Allegion’s inorganic drive and innovative products has boosted its performance as is evident from its price movement. The company’s shares have outperformed its industry so far this year. This Zacks Rank #3 (Hold) company is expected to sustain the momentum on the back of acquisitions and increased focus on innovation.
Allegion PLC Price
Allegion PLC Price | Allegion PLC Quote
Stocks to Consider
Some better-ranked stocks in the industry are Axon Enterprise, Inc. , MSA Safety Incorporated (MSA - Free Report) and Lakeland Industries, Inc. (LAKE - Free Report) . While Axon Enterprise and MSA Safety sport a Zacks Rank #1 (Strong Buy), Lakeland Industries carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Axon Enterprise is expected to witness 28.9% earnings growth in 2018.
MSA Safety’s 2018 earnings are expected to grow 23.6%.
Lakeland Industries is expected to witness 38.9% earnings growth in fiscal 2019.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>