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 (ALLE) Buys Stanley Black's Access Technologies Unit
Read MoreHide Full Article
Allegion plc (ALLE - Free Report) recently announced that it has completed the acquisition of Stanley Black & Decker, Inc.’s (SWK - Free Report) Access Technologies Business for an all-cash transaction of $900 million.
Based in New Britain, CT, Stanley Black manufactures and provides tools (power and hand tools) and related accessories, engineered fastening systems, and several other items and services to the industrial customers. SWK has about 50 manufacturing plants in the United States and above 100 worldwide.
Inside the Headlines
Access Technologies manufactures automatic doors and provides services for the same in the United States and Canada. Its customer base includes non-residential settings plus healthcare, retail, commercial offices, education, government and hospitality sectors. Access Technologies generated net sales of $340 million in 2021.
With this acquisition, Allegion will be able to enhance its access, egress and access control solutions offerings. The buyout will broaden ALLE’s reach to high-growth segments across a substantial installed base and enable it to provide its commercial and institutional clients with a comprehensive line of automatic entrance solutions. The acquisition strengthens ALLE’s Americas core business and helps accelerate delivery and efficiency through its expanded service center footprint and wider distribution capabilities.
Zacks Rank, Price Performance and Earnings Estimate Trend
Allegion, with an $8.8-billion market capitalization, currently carries a Zacks Rank #3 (Hold). ALLE is well-poised to benefit from strength in the end markets, product development and a large customer base. Also, its effective pricing actions, shareholder-friendly policies and acquisitions are likely to work in its favour. However, supply-chain woes, chip shortages and cost inflation are predicted to persist in the near term.
Image Source: Zacks Investment Research
Shares of Allegion have lost 8.3% compared with the 19.8% decline of its industry in the past three months.
The Zacks Consensus Estimate for 2022 earnings has moved 0.7% south to $5.63 in the past 60 days.
Zacks Rank & Stocks to Consider
Two better-ranked companies from the industrial products sector are discussed below:
GEF’s earnings estimates have increased 17.4% for fiscal 2022 (ending October 2022) in the past 60 days. Its shares have inched up 3% in the past three months.
Titan International, Inc. presently has a Zacks Rank of 1. Its earnings surprise in the last four quarters was 56.4%, on average.
In the past 60 days, TWI’s earnings estimates have increased 43.3% for 2022. The stock has gained 5.5% in the past three months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Allegion (ALLE) Buys Stanley Black's Access Technologies Unit
Allegion plc (ALLE - Free Report) recently announced that it has completed the acquisition of Stanley Black & Decker, Inc.’s (SWK - Free Report) Access Technologies Business for an all-cash transaction of $900 million.
Based in New Britain, CT, Stanley Black manufactures and provides tools (power and hand tools) and related accessories, engineered fastening systems, and several other items and services to the industrial customers. SWK has about 50 manufacturing plants in the United States and above 100 worldwide.
Inside the Headlines
Access Technologies manufactures automatic doors and provides services for the same in the United States and Canada. Its customer base includes non-residential settings plus healthcare, retail, commercial offices, education, government and hospitality sectors. Access Technologies generated net sales of $340 million in 2021.
With this acquisition, Allegion will be able to enhance its access, egress and access control solutions offerings. The buyout will broaden ALLE’s reach to high-growth segments across a substantial installed base and enable it to provide its commercial and institutional clients with a comprehensive line of automatic entrance solutions. The acquisition strengthens ALLE’s Americas core business and helps accelerate delivery and efficiency through its expanded service center footprint and wider distribution capabilities.
Zacks Rank, Price Performance and Earnings Estimate Trend
Allegion, with an $8.8-billion market capitalization, currently carries a Zacks Rank #3 (Hold). ALLE is well-poised to benefit from strength in the end markets, product development and a large customer base. Also, its effective pricing actions, shareholder-friendly policies and acquisitions are likely to work in its favour. However, supply-chain woes, chip shortages and cost inflation are predicted to persist in the near term.
Image Source: Zacks Investment Research
Shares of Allegion have lost 8.3% compared with the 19.8% decline of its industry in the past three months.
The Zacks Consensus Estimate for 2022 earnings has moved 0.7% south to $5.63 in the past 60 days.
Zacks Rank & Stocks to Consider
Two better-ranked companies from the industrial products sector are discussed below:
Greif, Inc. (GEF - Free Report) presently sports a Zacks Rank #1. GEF delivered a trailing four-quarter earnings surprise of 22.9%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
GEF’s earnings estimates have increased 17.4% for fiscal 2022 (ending October 2022) in the past 60 days. Its shares have inched up 3% in the past three months.
Titan International, Inc. presently has a Zacks Rank of 1. Its earnings surprise in the last four quarters was 56.4%, on average.
In the past 60 days, TWI’s earnings estimates have increased 43.3% for 2022. The stock has gained 5.5% in the past three months.