Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume – Time to Buy?

Shares of Assa Abloy AB (OTCMKTS:ASAZY) saw unusually-strong trading volume on Monday . Approximately 778,951 shares were traded during mid-day trading, an increase of 149% from the previous session’s volume of 312,905 shares.The stock last traded at $17.48 and had previously closed at $17.39.

Wall Street Analyst Weigh In

ASAZY has been the subject of a number of recent research reports. Zacks Research upgraded Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Pareto Securities upgraded Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. Barclays reiterated an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. Royal Bank Of Canada initiated coverage on Assa Abloy in a report on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, Dnb Carnegie upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Assa Abloy Stock Up 0.3%

The firm’s 50-day simple moving average is $18.24 and its 200 day simple moving average is $19.17. The company has a market cap of $39.24 billion, a P/E ratio of 23.20, a PEG ratio of 2.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 1.03.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%.The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.88 billion. On average, research analysts forecast that Assa Abloy AB will post 0.84 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.