Assa Abloy (OTCMKTS:ASAZY) Stock Price Down 4.3% – Here’s Why

Assa Abloy AB (OTCMKTS:ASAZY)’s share price was down 4.3% during trading on Tuesday . The stock traded as low as $17.18 and last traded at $17.1895. 7,474 shares changed hands during trading, a decline of 98% from the average daily volume of 352,820 shares. The stock had previously closed at $17.97.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ASAZY shares. Evercore raised 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 report on Wednesday, June 10th. Barclays restated an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Assa Abloy in a research note on Monday. Finally, Pareto Securities upgraded Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Assa Abloy has an average rating of “Moderate Buy”.

Assa Abloy Trading Down 0.2%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.61 and a current ratio of 1.00. The firm has a 50-day moving average of $17.62 and a 200-day moving average of $18.99. The firm has a market capitalization of $38.90 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY) last released its quarterly earnings data on Friday, July 17th. The industrial products company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Assa Abloy had a return on equity of 15.86% and a net margin of 10.82%.The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.09 billion. On average, equities research analysts anticipate that Assa Abloy AB will post 0.84 EPS 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.