Assa Abloy (OTCMKTS:ASAZY) Stock Price Down 4.3% – Here’s What Happened

Assa Abloy AB (OTCMKTS:ASAZY) shares traded down 4.3% during mid-day trading on Tuesday . The stock traded as low as $17.18 and last traded at $17.1895. 7,474 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 352,820 shares. The stock had previously closed at $17.97.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ASAZY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Assa Abloy in a research report on Monday. Evercore upgraded Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Barclays reaffirmed an “overweight” rating on shares of Assa Abloy in a report on Monday, June 15th. Zacks Research upgraded shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada assumed coverage on shares of Assa Abloy in a research note on Tuesday, June 16th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Assa Abloy Price Performance

The business has a fifty day moving average of $17.59 and a 200-day moving average of $18.96. The firm has a market cap of $39.30 billion, a PE ratio of 22.35, a PEG ratio of 2.05 and a beta of 1.17. The company has a current ratio of 1.00, a quick ratio of 0.61 and a debt-to-equity ratio of 0.41.

Assa Abloy (OTCMKTS:ASAZY) last posted its earnings results on Friday, July 17th. The industrial products company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Assa Abloy had a return on equity of 15.86% and a net margin of 10.82%.The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.09 billion. As a group, research analysts predict that Assa Abloy AB will post 0.84 earnings per share 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.