Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume – Still a Buy?

Assa Abloy AB (OTCMKTS:ASAZY) saw unusually-strong trading volume on Monday . Approximately 415,877 shares were traded during trading, an increase of 75% from the previous session’s volume of 238,114 shares.The stock last traded at $17.1650 and had previously closed at $17.07.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ASAZY shares. Zacks Research downgraded Assa Abloy from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Dnb Carnegie upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Barclays upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Pareto Securities upgraded Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. Finally, Evercore upgraded Assa Abloy to a “hold” rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Assa Abloy Trading Up 0.5%

The company has a market cap of $38.18 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. The firm has a 50-day moving average price of $18.70 and a 200 day moving average price of $19.30. The company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46.

Assa Abloy (OTCMKTS:ASAZY) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.88 billion. Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%. As a group, sell-side analysts forecast that Assa Abloy AB will post 0.86 EPS 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.