Assa Abloy AB (OTCMKTS:ASAZY) Sees Significant Decrease in Short Interest

Assa Abloy AB (OTCMKTS:ASAZY) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 7,790 shares, a drop of 48.5% from the May 31st total of 15,113 shares. Based on an average trading volume of 982,989 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ASAZY. Royal Bank Of Canada started coverage on shares of Assa Abloy in a report on Tuesday, June 16th. They issued an “outperform” rating on the stock. Dnb Carnegie upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Zacks Research raised Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Evercore upgraded Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Finally, Barclays restated an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Assa Abloy has a consensus rating of “Moderate Buy”.

Assa Abloy Trading Up 0.3%

OTCMKTS ASAZY opened at $17.64 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 1.03. The firm has a market cap of $39.24 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.28 and a beta of 1.17. The firm has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $19.17. Assa Abloy has a one year low of $15.39 and a one year high of $21.98.

Assa Abloy (OTCMKTS:ASAZY) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%. Equities research analysts anticipate that Assa Abloy will post 0.84 EPS for the current fiscal 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.