Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume – What’s Next?

Assa Abloy AB (OTCMKTS:ASAZY) shares saw unusually-high trading volume on Monday . Approximately 437,463 shares were traded during mid-day trading, an increase of 57% from the previous session’s volume of 278,987 shares.The stock last traded at $17.51 and had previously closed at $17.88.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Dnb Carnegie raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Royal Bank Of Canada assumed coverage on shares of Assa Abloy in a report on Tuesday, June 16th. They set an “outperform” rating for the company. Evercore raised shares of Assa Abloy to a “hold” rating in a research report on Monday, April 13th. Zacks Research upgraded shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Pareto Securities raised shares of Assa Abloy from a “hold” rating to a “buy” rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Assa Abloy Stock Down 2.3%

The stock’s fifty day simple moving average is $18.60 and its two-hundred day simple moving average is $19.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.63. The company has a market capitalization of $38.87 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.28 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.17 EPS 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 analyst estimates of $3.88 billion. Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%. On average, sell-side analysts predict that Assa Abloy AB will post 0.86 earnings per share 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.