Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume – What’s Next?

Assa Abloy AB (OTCMKTS:ASAZY) saw an uptick in trading volume on Tuesday . 650,690 shares traded hands during mid-day trading, an increase of 148% from the previous session’s volume of 262,811 shares.The stock last traded at $18.22 and had previously closed at $17.93.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ASAZY. Evercore raised shares of Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Dnb Carnegie raised Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Royal Bank Of Canada initiated coverage on Assa Abloy in a report on Tuesday. They set an “outperform” rating on the stock. Zacks Research raised Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Pareto Securities upgraded Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Assa Abloy has an average rating of “Moderate Buy”.

Assa Abloy Trading Up 0.6%

The firm has a market cap of $39.70 billion, a P/E ratio of 23.47, a PEG ratio of 2.32 and a beta of 1.17. The firm’s fifty day moving average is $18.64 and its two-hundred day moving average is $19.26. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 0.46.

Assa Abloy (OTCMKTS:ASAZY) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Analysts predict that Assa Abloy AB will post 0.86 earnings per share for the current fiscal year.

Assa Abloy Company Profile

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.