Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume – Should You Buy?

Shares of Assa Abloy AB (OTCMKTS:ASAZY) saw an uptick in trading volume on Thursday . Approximately 1,217,659 shares were traded during mid-day trading, an increase of 287% from the previous session’s volume of 314,914 shares.The stock last traded at $17.57 and had previously closed at $17.39.

Wall Street Analysts Forecast Growth

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

Assa Abloy Price Performance

The company has a quick ratio of 0.63, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $18.16 and a 200 day moving average price of $18.35. The firm has a market capitalization of $39.01 billion, a PE ratio of 22.19, a PEG ratio of 2.04 and a beta of 1.16.

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

Assa Abloy Company Profile

Assa Abloy AB is a Sweden-based global provider of access solutions. The company develops, manufactures and sells products and technologies designed to secure, control and automate entry to buildings, facilities and other protected spaces.

Its offerings include mechanical and electromechanical locks, digital and mobile access systems, identification and security technologies, door hardware, entrance automation and security doors. Assa Abloy serves residential, commercial, institutional, hospitality, healthcare and industrial customers through a portfolio of regional and international brands, including ASSA, ABLOY, Yale and HID.

The company was formed in 1994 through the merger of Swedish lock manufacturer ASSA AB and Finnish lock manufacturer Abloy Oy.