Assa Abloy (OTCMKTS:ASAZY) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Assa Abloy (OTCMKTS:ASAZY) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

ASAZY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Assa Abloy in a research report on Thursday, November 20th. Citigroup reissued a “buy” rating on shares of Assa Abloy in a research note on Friday. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Assa Abloy Trading Down 0.4%

Shares of ASAZY stock opened at $21.85 on Monday. The business’s fifty day moving average price is $19.79 and its 200 day moving average price is $18.56. The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.47. Assa Abloy has a 1-year low of $12.76 and a 1-year high of $21.98.

Assa Abloy (OTCMKTS:ASAZY) last issued its earnings results on Thursday, February 5th. The industrial products company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Assa Abloy had a return on equity of 14.85% and a net margin of 9.74%. On average, sell-side analysts anticipate that Assa Abloy will post 0.69 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.