Assa Abloy (OTCMKTS:ASAZY) Sets New 1-Year High – Here’s Why

Assa Abloy AB (OTCMKTS:ASAZY)’s share price reached a new 52-week high during trading on Saturday . The stock traded as high as $20.42 and last traded at $20.40, with a volume of 205688 shares traded. The stock had previously closed at $20.26.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citigroup upgraded shares of Assa Abloy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 23rd. Zacks Research upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Assa Abloy in a research report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Assa Abloy Stock Performance

The firm has a fifty day moving average of $19.21 and a 200-day moving average of $18.14. The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.47. The firm has a market cap of $45.39 billion, a P/E ratio of 28.73, a PEG ratio of 2.39 and a beta of 1.21.

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