Assa Abloy (OTCMKTS:ASAZY) Upgraded by Zacks Research to “Strong-Buy” Rating

Assa Abloy (OTCMKTS:ASAZY) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Assa Abloy in a report on Thursday, November 20th. Citigroup raised shares of Assa Abloy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Assa Abloy Trading Up 0.9%

Shares of Assa Abloy stock opened at $20.26 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.47. Assa Abloy has a 52 week low of $12.76 and a 52 week high of $20.39. The business’s fifty day simple moving average is $19.18 and its 200-day simple moving average is $18.11.

Assa Abloy (OTCMKTS:ASAZY) last released its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Assa Abloy had a net margin of 9.57% and a return on equity of 14.24%. Research analysts predict that Assa Abloy will post 0.69 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.