Assa Abloy (OTCMKTS:ASAZY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Assa Abloy AB (OTCMKTS:ASAZY) saw unusually-high trading volume on Wednesday . 1,015,843 shares were traded during trading, an increase of 226% from the previous session’s volume of 311,548 shares.The stock last traded at $17.25 and had previously closed at $17.50.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ASAZY shares. Dnb Carnegie upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Pareto Securities upgraded Assa Abloy from a “hold” rating to a “buy” rating in a research report on Wednesday, April 8th. Royal Bank Of Canada began coverage on Assa Abloy in a research note on Tuesday, June 16th. They issued an “outperform” rating on the stock. Barclays reiterated an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. Finally, Zacks Research raised Assa Abloy from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. 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 stock. Based on data from MarketBeat, Assa Abloy has a consensus rating of “Moderate Buy”.

Assa Abloy Price Performance

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 firm has a market capitalization of $38.50 billion, a P/E ratio of 22.76, a PEG ratio of 2.29 and a beta of 1.17. The company’s 50 day moving average price is $17.99 and its 200 day moving average price is $19.12.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings data 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 firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.88 billion. Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%. As a group, sell-side analysts anticipate that Assa Abloy AB will post 0.84 EPS 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.