Assa Abloy (OTCMKTS:ASAZY) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Assa Abloy AB (OTCMKTS:ASAZY) saw unusually-strong trading volume on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. Approximately 579,229 shares traded hands during mid-day trading, an increase of 120% from the previous session’s volume of 263,785 shares.The stock last traded at $19.83 and had previously closed at $19.69.

ASAZY has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Assa Abloy in a report on Thursday, November 20th. Citigroup upgraded Assa Abloy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Assa Abloy Stock Up 0.7%

The business’s 50 day simple moving average is $19.21 and its two-hundred day simple moving average is $18.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.06.

Assa Abloy (OTCMKTS:ASAZY) last announced its earnings results on Tuesday, October 21st. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.95 billion. Assa Abloy had a net margin of 9.57% and a return on equity of 14.24%. Sell-side analysts expect that Assa Abloy AB will post 0.69 earnings per share 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.