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

Shares of Assa Abloy AB (OTCMKTS:ASAZY) saw unusually-strong trading volume on Monday . Approximately 778,951 shares changed hands during trading, an increase of 149% from the previous session’s volume of 312,905 shares.The stock last traded at $17.48 and had previously closed at $17.39.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ASAZY. Zacks Research upgraded shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Evercore upgraded shares of Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Barclays reissued an “overweight” rating on shares of Assa Abloy in a report on Monday, June 15th. Royal Bank Of Canada began coverage on shares of Assa Abloy in a research report on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, Pareto Securities raised shares of Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Assa Abloy Stock Up 0.9%

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 cap of $39.03 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.26 and a beta of 1.17. The company has a fifty day moving average price of $18.35 and a 200 day moving average price of $19.19.

Assa Abloy (OTCMKTS:ASAZY) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.88 billion. As a group, analysts anticipate that Assa Abloy AB will post 0.84 EPS for the current 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.