Dnb Carnegie Upgrades Assa Abloy (OTCMKTS:ASAZY) to Strong-Buy

Assa Abloy (OTCMKTS:ASAZY) was upgraded by investment analysts at Dnb Carnegie from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

ASAZY has been the topic of several other reports. Citigroup reiterated a “buy” rating on shares of Assa Abloy in a research report on Friday, February 6th. Barclays raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Finally, Zacks Research cut shares of Assa Abloy from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Assa Abloy Stock Performance

Shares of OTCMKTS ASAZY opened at $18.49 on Thursday. The firm has a market capitalization of $41.14 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.07 and a beta of 1.22. Assa Abloy has a one year low of $12.76 and a one year high of $21.98. The business has a fifty day simple moving average of $19.83 and a 200 day simple moving average of $19.08. The company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.36 billion. Assa Abloy had a return on equity of 14.78% and a net margin of 9.74%. Sell-side analysts expect that Assa Abloy will post 0.69 EPS for the current 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.