Short Interest in Assa Abloy AB (OTCMKTS:ASAZY) Drops By 48.5%

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

Assa Abloy Stock Up 1.2%

Shares of OTCMKTS:ASAZY traded up $0.20 during midday trading on Thursday, hitting $17.79. 2,427 shares of the stock were exchanged, compared to its average volume of 313,784. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 1.03. Assa Abloy has a 52-week low of $15.39 and a 52-week high of $21.98. The business’s fifty day simple moving average is $18.18 and its two-hundred day simple moving average is $19.16. The company has a market capitalization of $39.59 billion, a PE ratio of 23.41, a P/E/G ratio of 2.29 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share (EPS) 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 business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.88 billion. As a group, research analysts predict that Assa Abloy will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Dnb Carnegie upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Pareto Securities raised shares of Assa Abloy from a “hold” rating to a “buy” rating in a research note on Wednesday, April 8th. Evercore upgraded shares of Assa Abloy to a “hold” rating in a report on Monday, April 13th. Zacks Research raised shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Barclays restated an “overweight” rating on shares of Assa Abloy in a 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.