Jim Cramer on Allegion: “It’s Not That Expensive”

Allegion plc (NYSE:ALLE) is one of the stocks Jim Cramer talked about, along with market froth. During the lightning round, a caller asked about Cramer’s thoughts on the stock, and he replied:

That’s a good company. It’s an electronic security company, and it’s a good company. It’s not that expensive. It’s the kind of company that you can buy into weakness and not feel like you’re going to get your head blown off, which is how I feel about a lot of these stocks that are up between 50% and 80% so far this year already.

A technical stock market chart. Photo by Energepic from Pexels

Allegion plc (NYSE:ALLE) provides physical and digital security solutions, ranging from locks and exit devices to integrated access control software. It sells its products and maintenance services to residential and commercial customers.

On January 7, Barclays reduced its price target on the company’s stock to $180, down from $187, while maintaining an Equal Weight rating. The firm made the revision during a broader update to price targets within the multi-industry sector for the fourth quarter. Barclays noted that the demand appears to be strengthening, especially due to a rise in orders related to artificial intelligence.

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Disclosure: None. This article is originally published at Insider Monkey.