Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume – Time to Buy?

Assa Abloy AB (OTCMKTS:ASAZY) shares saw strong 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays reissued an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. Zacks Research raised shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Pareto Securities upgraded shares of Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. Royal Bank Of Canada started coverage on shares of Assa Abloy in a research note on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, Dnb Carnegie upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Assa Abloy Price Performance

The company’s fifty day moving average is $18.50 and its 200 day moving average is $19.22. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. The stock has a market cap of $37.45 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.88 billion. As a group, sell-side analysts anticipate 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.