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Allegion (ALLE) Teams Up with Yonomi, Boosts IoT Footmark
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Allegion, plc (ALLE - Free Report) has made a strategic equity investment in Yonomi, a mobile application and cloud platform provider. This pact will help Allegion to further integrate into the smart-home market with Yonomi’s consumer application for a smooth communication between smart-home devices.
With this alliance between the two smart-home Internet of things (IoT) players, Allegion will be able to access Yonomi's Thin Cloud Infrastructure and cloud computing expertise for smart-home experiences. One of Allegion’s leading brands, Schlage, also installed Yonomi Thin Cloud for its smart locks.
Users can personalize conditions through the mobile application that control multiple smart-home devices with simple voice command. The app currently integrates with more than 60 popular smart-home devices, including some Schlage locks.
Allegion continuously updates its products and develops new ones to keep up with the changing market sentiment toward electronic security products and solutions. In fact, sales of such electronic security products are growing at almost twice the rate of their traditional mechanical counterparts. Allegion continues to focus on making incremental investments in organic growth for new product development. It is also trying to chalk out channel strategies and gain enterprise excellence to accelerate core market expansion.
The latest pact is consistent with Allegion’s strategy to drive growth and create shareholder value by investing in new technologies. The company’s unwavering focus on innovation and investments in new product development helps it to boost the vitality index (an overall measure of innovativeness). Vitality index increased from single digits in 2014 to high teens in 2016.
Last month, Allegion came up with first-quarter 2017 results wherein its adjusted earnings surpassed the Zacks Consensus Estimate by 5.8%. The reported number was also up 19.7% from the prior-year quarter.
The company’s top line also increased 8% year over year on an organic basis, courtesy of strong performance in the Americas segment, reflecting continued strength in the region’s channel initiatives, synergies from new product introductions, electronics growth and strong market demand in both non-residential and residential businesses.
Share Price Performance
Allegion’s shares gained 20.3% year to date, outperforming the 6.9% growth for the Zacks categorized Protection-Safety Equipment & Services industry. Going forward, Allegion's acquisitions and focus on innovation should drive the stock’s performance.
Full-year 2017 earnings for Ituran Location are expected to increase 28.8%.
Assa Abloy is expected to witness 17.1% growth in 2017 earnings.
Brady Corporation is expected to see a 14.8% rise in fiscal 2017 earnings.
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With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Allegion (ALLE) Teams Up with Yonomi, Boosts IoT Footmark
Allegion, plc (ALLE - Free Report) has made a strategic equity investment in Yonomi, a mobile application and cloud platform provider. This pact will help Allegion to further integrate into the smart-home market with Yonomi’s consumer application for a smooth communication between smart-home devices.
With this alliance between the two smart-home Internet of things (IoT) players, Allegion will be able to access Yonomi's Thin Cloud Infrastructure and cloud computing expertise for smart-home experiences. One of Allegion’s leading brands, Schlage, also installed Yonomi Thin Cloud for its smart locks.
Users can personalize conditions through the mobile application that control multiple smart-home devices with simple voice command. The app currently integrates with more than 60 popular smart-home devices, including some Schlage locks.
Allegion continuously updates its products and develops new ones to keep up with the changing market sentiment toward electronic security products and solutions. In fact, sales of such electronic security products are growing at almost twice the rate of their traditional mechanical counterparts. Allegion continues to focus on making incremental investments in organic growth for new product development. It is also trying to chalk out channel strategies and gain enterprise excellence to accelerate core market expansion.
The latest pact is consistent with Allegion’s strategy to drive growth and create shareholder value by investing in new technologies. The company’s unwavering focus on innovation and investments in new product development helps it to boost the vitality index (an overall measure of innovativeness). Vitality index increased from single digits in 2014 to high teens in 2016.
Last month, Allegion came up with first-quarter 2017 results wherein its adjusted earnings surpassed the Zacks Consensus Estimate by 5.8%. The reported number was also up 19.7% from the prior-year quarter.
The company’s top line also increased 8% year over year on an organic basis, courtesy of strong performance in the Americas segment, reflecting continued strength in the region’s channel initiatives, synergies from new product introductions, electronics growth and strong market demand in both non-residential and residential businesses.
Share Price Performance
Allegion’s shares gained 20.3% year to date, outperforming the 6.9% growth for the Zacks categorized Protection-Safety Equipment & Services industry. Going forward, Allegion's acquisitions and focus on innovation should drive the stock’s performance.
Zacks Rank & Other Stocks to Consider
Allegion currently carries a Zacks Rank #2 (Buy).
Other stocks worth considering in the space are Ituran Location and Control Ltd. (ITRN - Free Report) , Assa Abloy AB (ASAZY - Free Report) and Brady Corporation (BRC - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Full-year 2017 earnings for Ituran Location are expected to increase 28.8%.
Assa Abloy is expected to witness 17.1% growth in 2017 earnings.
Brady Corporation is expected to see a 14.8% rise in fiscal 2017 earnings.
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.
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