Short Interest in Assa Abloy AB (OTCMKTS:ASAZY) Expands By 77.4%

Assa Abloy AB (OTCMKTS:ASAZY) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 99,571 shares, an increase of 77.4% from the July 30th total of 56,115 shares. Based on an average daily volume of 247,793 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are short sold.

Assa Abloy Stock Performance

OTCMKTS:ASAZY opened at $18.20 on Wednesday. The stock has a 50 day simple moving average of $18.09 and a 200 day simple moving average of $18.60. The stock has a market cap of $40.50 billion, a P/E ratio of 23.04, a PEG ratio of 2.16 and a beta of 1.16. Assa Abloy has a 1-year low of $16.71 and a 1-year high of $21.98. The company has a current ratio of 1.01, a quick ratio of 0.63 and a debt-to-equity ratio of 0.43.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings data on Friday, July 17th. The industrial products company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Assa Abloy had a return on equity of 15.56% and a net margin of 10.82%.The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Research analysts anticipate that Assa Abloy will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ASAZY shares. Zacks Research raised shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Assa Abloy in a research note on Monday, July 20th. Royal Bank Of Canada assumed coverage on Assa Abloy in a report on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, Barclays reiterated an “overweight” rating on shares of Assa Abloy in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Assa Abloy has a consensus rating of “Moderate Buy”.

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.