Assa Abloy (OTCMKTS:ASAZY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Assa Abloy (OTCMKTS:ASAZY) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Assa Abloy in a research note on Thursday, November 20th. Citigroup raised Assa Abloy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Assa Abloy currently has an average rating of “Moderate Buy”.

Assa Abloy Stock Up 0.9%

Shares of OTCMKTS ASAZY opened at $20.26 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.06. The stock’s 50-day simple moving average is $19.18 and its two-hundred day simple moving average is $18.11. Assa Abloy has a twelve month low of $12.76 and a twelve month high of $20.39.

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