Assa Abloy (OTCMKTS:ASAZY) Sees Unusually-High Trading Volume – What’s Next?

Assa Abloy AB (OTCMKTS:ASAZY) saw strong trading volume on Wednesday . 1,653,672 shares traded hands during mid-day trading, an increase of 396% from the previous session’s volume of 333,440 shares.The stock last traded at $16.99 and had previously closed at $16.89.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. 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 started coverage on Assa Abloy in a research note on Tuesday, June 16th. They set an “outperform” rating on the stock. Pareto Securities upgraded Assa Abloy from a “hold” rating to a “buy” rating in a research report on Wednesday, April 8th. Finally, Evercore raised Assa Abloy to a “hold” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Assa Abloy currently has a consensus rating of “Moderate Buy”.

Assa Abloy Stock Performance

The company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $17.67 and its 200 day moving average is $19.01. The stock has a market capitalization of $38.16 billion, a PE ratio of 22.57, a PEG ratio of 2.23 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%. On average, equities research analysts predict that Assa Abloy AB will post 0.84 earnings per share 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.