Assa Abloy (OTCMKTS:ASAZY) Rating Lowered to “Strong Sell” at Zacks Research

Assa Abloy (OTCMKTS:ASAZY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

ASAZY has been the subject of several other research reports. Dnb Carnegie upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Pareto Securities raised Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. Barclays upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Citigroup restated a “buy” rating on shares of Assa Abloy in a research note on Friday, February 6th. Finally, Evercore upgraded Assa Abloy to a “hold” rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Assa Abloy Price Performance

Shares of OTCMKTS ASAZY opened at $18.34 on Tuesday. The stock has a market cap of $40.81 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.37 and a beta of 1.20. Assa Abloy has a fifty-two week low of $14.81 and a fifty-two week high of $21.98. The firm’s 50-day simple moving average is $18.99 and its 200 day simple moving average is $19.43. 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 announced 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). The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.88 billion. Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%. As a group, research analysts anticipate that Assa Abloy will post 0.86 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.