Assa Abloy (OTCMKTS:ASAZY) Sees Unusually-High Trading Volume – Here’s Why

Shares of Assa Abloy AB (OTCMKTS:ASAZY – Get Free Report) saw unusually-high trading volume on Wednesday . 1,015,843 shares traded hands 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.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Pareto Securities raised Assa Abloy from a “hold” rating to a “buy” rating in a research note on Wednesday, April 8th. Barclays reaffirmed an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. Evercore raised shares of Assa Abloy to a “hold” rating in a report on Monday, April 13th. Zacks Research upgraded Assa Abloy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Royal Bank Of Canada initiated coverage on shares of Assa Abloy in a research report on Tuesday, June 16th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Assa Abloy presently has a consensus rating of “Moderate Buy”.

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Assa Abloy Stock Down 1.1%

The firm has a 50 day moving average of $17.99 and a two-hundred day moving average of $19.12. 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 market capitalization of $38.50 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company 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%. As a group, sell-side analysts anticipate that Assa Abloy AB will post 0.84 EPS for the current fiscal year.

About Assa Abloy

(Get Free Report)

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.

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