Allegion Unveils Latest Deadbolt, Enhances Product Portfolio
Zacks Investment Research | Jan 07, 2019 10:37PM ET
Allegion plc (NYSE:ALLE) recently announced that its brand, Schlage, is launching the first-ever WiFi enabled deadbolt — the Schlage Encode Smart WiFi Deadbolt. Notably, the brand’s next generation smart lock, Schlage Encode features built-in WiFi connectivity that allows users secure remote access from anyplace. Currently, the latest smart lock is available for presale and will be put on show at the Key by Amazon CES booth.
The smart lock has easy installation capabilities with in-home WiFi connectivity, offering secure, remote access control to customers. As a matter of fact, the built-in technology of the smart lock removes the requirement of an additional hub. The latest smart lock offers several user-friendly features like the ability to control multiple guest access and the ability to monitor access via customizable notifications using a code.
Also, it provides customers the option to add Amazon.com, Inc.’s (NASDAQ:AMZN) Cloud Cam to their Key Smart Lock Kit, allowing them to monitor entries as well as deliveries. Additionally, the Deadbolt's compatibility with Amazon Alexa enables customers to command the deadbolt and check status of their door.
Our Take
Although, Allegion’s focus on updating its products and developing new ones holds good, material cost inflation is escalating its aggregate costs of late. Rising cost, if unchecked, is likely to dent the company’s margins in the quarters ahead.
In the past month, shares of this Zacks Rank #4 (Sell) company have lost 8% compared with the Zacks Investment Research
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