Assa Abloy (OTCMKTS:ASAZY) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Assa Abloy AB (OTCMKTS:ASAZY)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $19.90 and traded as low as $17.51. Assa Abloy shares last traded at $17.95, with a volume of 241,513 shares trading hands.

Wall Street Analysts Forecast Growth

ASAZY has been the subject of a number of research analyst reports. Barclays upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Zacks Research lowered shares of Assa Abloy from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Citigroup reissued a “buy” rating on shares of Assa Abloy in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Assa Abloy has an average rating of “Moderate Buy”.

Assa Abloy Stock Performance

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 firm has a 50-day moving average price of $19.90 and a two-hundred day moving average price of $19.09. The firm has a market cap of $39.94 billion, a PE ratio of 24.26, a P/E/G ratio of 1.95 and a beta of 1.20.

Assa Abloy (OTCMKTS:ASAZY) last issued its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Assa Abloy had a return on equity of 14.78% and a net margin of 9.74%.The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Research analysts forecast that Assa Abloy AB will post 0.69 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.