Assa Abloy (OTCMKTS:ASAZY) Sees Large Volume Increase – Here’s What Happened

Assa Abloy AB (OTCMKTS:ASAZY) saw an uptick in trading volume on Wednesday . 1,653,672 shares were traded during mid-day trading, an increase of 396% from the previous session’s volume of 333,440 shares.The stock last traded at $16.99 and had previously closed at $16.89.

Analyst Upgrades and Downgrades

ASAZY has been the subject of a number of research reports. Zacks Research upgraded shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Evercore raised Assa Abloy to a “hold” rating in a report on Monday, April 13th. Royal Bank Of Canada started coverage on Assa Abloy in a research report on Tuesday, June 16th. They set an “outperform” rating for the company. Barclays reissued an “overweight” rating on shares of Assa Abloy in a report on Monday, June 15th. Finally, Dnb Carnegie upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Assa Abloy Stock Performance

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 stock has a market cap of $38.18 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.20 and a beta of 1.17. The business’s 50-day moving average price is $17.76 and its 200-day moving average price is $19.04.

Assa Abloy (OTCMKTS:ASAZY) last released 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). Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.88 billion. As a group, sell-side analysts expect that Assa Abloy AB will post 0.84 earnings per share 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.