Pareto Securities Upgrades Assa Abloy (OTCMKTS:ASAZY) to “Strong-Buy”

Assa Abloy (OTCMKTS:ASAZY) was upgraded by investment analysts at Pareto Securities from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently commented on the company. Barclays raised Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Citigroup reaffirmed a “buy” rating on shares of Assa Abloy in a report on Friday, February 6th. Zacks Research downgraded Assa Abloy from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Dnb Carnegie raised Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Assa Abloy Trading Up 0.6%

Shares of OTCMKTS ASAZY opened at $19.66 on Wednesday. Assa Abloy has a 12 month low of $13.45 and a 12 month high of $21.98. The company has a market cap of $43.75 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 2.22 and a beta of 1.22. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $19.68 and a 200-day simple moving average of $19.12.

Assa Abloy (OTCMKTS:ASAZY) last announced 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). Assa Abloy had a net margin of 9.74% and a return on equity of 14.78%. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Sell-side analysts predict that Assa Abloy will post 0.69 EPS for the current 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.