Published on 30 May 2024 on Zacks via Yahoo Finance

Allegion (ALLE) Unveils Schlage XE360 Series Wireless Locks

Allegion plc ALLE recently unveiled the Schlage XE360 series wireless locks, which have been designed specifically for multifamily properties.The XE360 series wireless locks come with in-demand finishes and modern lever styles. The product, which is capable of operating in an offline or No-Tour mode, supports advanced credential technologies.The advanced FleX Module board facilitates the upgradation of the XE360 Series locks in the field, allowing migration from an offline to a networked solution per the building's requirements or technology change. The XE360 Series' open architecture design enables it to be easily integrated with Allegion and other access control software providers and proptech systems. These locks can be installed in home entrances, common areas and workspaces with a one-system solution.Allegion has been successfully launching other innovative security products and solutions for a while that have now become key catalysts for growth. Some notable products introduced by the company are HSLR Electrified ligature-resistant cylindrical trim, L Series Electrified Mortise lock, M420/422 Mag locks and M490G Magnetic gate locks.

Zacks Rank and Price Performance

ALLE currently carries a Zacks Rank #2 (Buy). An increase in demand for electronic security products, driven by growing awareness about the security and safety of people and infrastructure, is aiding the Allegion International segment. Higher adoption of advanced technologies and solutions in the electronics security products market is expected to drive Allegion’s performance in the quarters ahead.In the past year, the stock rose 11.5% compared with the industry’s 20.8% growth.