Assa Abloy (OTCMKTS:ASAZY) Hits New 1-Year High – Here’s Why

Assa Abloy AB (OTCMKTS:ASAZY) shares reached a new 52-week high on Friday . The company traded as high as $19.4450 and last traded at $19.24, with a volume of 111112 shares trading hands. The stock had previously closed at $19.36.

Wall Street Analysts Forecast Growth

ASAZY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Assa Abloy in a research report on Thursday, November 20th. Barclays raised shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Citigroup upgraded Assa Abloy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Assa Abloy Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.06 and a quick ratio of 0.66. The stock has a 50 day simple moving average of $18.55 and a two-hundred day simple moving average of $17.31. The company has a market capitalization of $42.81 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 2.75 and a beta of 1.21.

Assa Abloy (OTCMKTS:ASAZY) last announced its earnings results on Tuesday, October 21st. The industrial products company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Assa Abloy had a net margin of 9.57% and a return on equity of 14.24%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.95 billion. As a group, analysts anticipate that Assa Abloy AB will post 0.69 earnings per share for the current year.

About Assa Abloy

ASSA ABLOY AB (publ) provides door opening and access products, solutions, and services for the institutional, commercial, and residential markets in Europe, the Middle East, India, Africa, North and South America, Asia, and Oceania. The company provides digital access solutions, such as electronic access control ecosystem, wireless solutions, electronic key solutions, standalone access solutions, and wired solutions; swing, revolving, and sliding doors; mechanical products, including hinges, lever handles, mortise lockcases, euro profile cylinders, panic exit devices, door closers, floor spring, and general hardware; and doors.