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

Assa Abloy AB (OTCMKTS:ASAZY) shares saw strong trading volume on Wednesday . 1,015,843 shares were traded during trading, an increase of 226% from the previous session’s volume of 311,548 shares.The stock last traded at $17.25 and had previously closed at $17.50.

Analyst Ratings Changes

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

Assa Abloy Stock Up 0.9%

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 business has a 50-day simple moving average of $17.88 and a 200-day simple moving average of $19.09. The company has a market cap of $38.53 billion, a PE ratio of 22.79, a P/E/G ratio of 2.24 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY) last announced 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). The business had revenue of $3.85 billion for 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%. Equities research analysts anticipate that Assa Abloy AB will post 0.84 EPS for the current 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.