Assa Abloy (OTCMKTS:ASAZY) Sees Large Volume Increase – What’s Next?

Shares of Assa Abloy AB (OTCMKTS:ASAZY) saw an uptick in trading volume on Monday . Approximately 437,463 shares changed hands during trading, an increase of 57% from the previous session’s volume of 278,987 shares.The stock last traded at $17.51 and had previously closed at $17.88.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays reiterated an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. Royal Bank Of Canada initiated coverage on Assa Abloy in a research note on Tuesday, June 16th. They set an “outperform” rating on the stock. Dnb Carnegie upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Evercore raised Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Finally, Pareto Securities raised Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Assa Abloy Price Performance

The company has a market cap of $38.87 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 2.28 and a beta of 1.17. The company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $18.60 and a 200 day moving average price of $19.25.

Assa Abloy (OTCMKTS:ASAZY) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company 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, research analysts expect that Assa Abloy AB will post 0.86 earnings per share for the current fiscal year.

Assa Abloy Company Profile

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.