Assa Abloy (OTCMKTS:ASAZY) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Assa Abloy AB (OTCMKTS:ASAZY)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $19.18 and traded as high as $19.3999. Assa Abloy shares last traded at $19.29, with a volume of 115,858 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on ASAZY shares. Citigroup reaffirmed a “buy” rating on shares of Assa Abloy in a report on Friday, February 6th. Barclays raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Zacks Research lowered shares of Assa Abloy from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Evercore raised shares of Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Finally, Pareto Securities raised shares of Assa Abloy from a “hold” rating to a “buy” rating in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Assa Abloy has an average rating of “Moderate Buy”.

Assa Abloy Price Performance

The stock has a market capitalization of $42.92 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 2.48 and a beta of 1.20. The stock’s 50 day moving average is $19.18 and its two-hundred day moving average is $19.44. 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 issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%. On average, equities analysts anticipate that Assa Abloy AB will post 0.89 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.