Assa Abloy (OTCMKTS:ASAZY) Lowered to Hold Rating by Zacks Research

Assa Abloy (OTCMKTS:ASAZY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

ASAZY has been the subject of several other reports. Citigroup restated a “buy” rating on shares of Assa Abloy in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Assa Abloy in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Assa Abloy currently has a consensus rating of “Hold”.

Assa Abloy Trading Down 0.4%

Shares of OTCMKTS:ASAZY opened at $21.85 on Monday. The business’s 50 day moving average is $19.79 and its 200 day moving average is $18.56. Assa Abloy has a 52-week low of $12.76 and a 52-week high of $21.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.06 and a quick ratio of 0.66.

Assa Abloy (OTCMKTS:ASAZY) last issued its earnings results on Thursday, February 5th. The industrial products company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Assa Abloy had a net margin of 9.74% and a return on equity of 14.85%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.36 billion. Sell-side analysts predict that Assa Abloy will post 0.69 EPS for the current fiscal year.

About Assa Abloy

Assa Abloy is a global provider of door opening solutions, formed in 1994 through the merger of Swedish lock manufacturer ASSA and Finnish lock specialist Abloy. Building on a legacy that dates back to 1907, the company has grown into a diversified security technology group offering a broad portfolio of mechanical and electromechanical locks, access control systems, identification technology and entrance automation. Assa Abloy serves a wide range of end markets, including commercial buildings, residential dwellings, institutions, transportation hubs and hospitality venues.

The company’s product offerings encompass traditional mechanical locks and keys as well as advanced digital solutions such as mobile access credentials, smart door locks and cloud-based access management platforms.