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

Shares of Assa Abloy AB (OTCMKTS:ASAZY – Get Free Report) saw strong trading volume on Monday . 778,951 shares were traded during mid-day trading, an increase of 149% from the previous session’s volume of 312,905 shares.The stock last traded at $17.48 and had previously closed at $17.39.

Wall Street Analysts Forecast Growth

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

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Assa Abloy Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 1.03. The company has a market cap of $39.03 billion, a PE ratio of 23.08, a PEG ratio of 2.26 and a beta of 1.17. The business’s 50-day moving average is $18.35 and its 200 day moving average is $19.19.

Assa Abloy (OTCMKTS:ASAZY – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.88 billion. On average, equities research analysts predict 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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