Assa Abloy (OTCMKTS:ASAZY) Sees Large Volume Increase – Here’s Why

Assa Abloy AB (OTCMKTS:ASAZY) shares saw unusually-strong trading volume on Wednesday . Approximately 235,747 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 222,344 shares.The stock last traded at $20.88 and had previously closed at $21.02.

Analyst Ratings Changes

A number of brokerages have commented on ASAZY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Assa Abloy in a report on Thursday, November 20th. Citigroup reissued a “buy” rating on shares of Assa Abloy in a report on Friday, February 6th. Finally, Zacks Research downgraded Assa Abloy from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Assa Abloy has a consensus rating of “Hold”.

Assa Abloy Stock Down 0.5%

The firm’s 50-day simple moving average is $20.03 and its 200 day simple moving average is $18.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.06. The company has a market cap of $46.55 billion, a P/E ratio of 28.27, a PEG ratio of 3.08 and a beta of 1.21.

Assa Abloy (OTCMKTS:ASAZY) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Assa Abloy had a net margin of 9.74% and a return on equity of 14.85%. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.36 billion. On average, research analysts forecast that Assa Abloy AB will post 0.69 earnings per share for the current fiscal 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.