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

Assa Abloy AB (OTCMKTS:ASAZY) saw an uptick in trading volume on Tuesday . 650,690 shares changed hands during trading, an increase of 148% from the previous session’s volume of 262,811 shares.The stock last traded at $18.22 and had previously closed at $17.93.

Analyst Ratings Changes

A number of brokerages have commented on ASAZY. Pareto Securities raised shares of Assa Abloy from a “hold” rating to a “buy” rating in a research note on Wednesday, April 8th. Evercore raised shares of Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Dnb Carnegie raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Zacks Research raised shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Barclays reissued an “overweight” rating on shares of Assa Abloy in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Assa Abloy currently has an average rating of “Moderate Buy”.

Assa Abloy Price 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 company’s fifty day moving average is $18.66 and its two-hundred day moving average is $19.27. The stock has a market cap of $40.69 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 2.24 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share 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 company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.88 billion. As a group, research analysts predict that Assa Abloy AB will post 0.86 earnings per share for the current year.

About Assa Abloy

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.