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

Assa Abloy AB (OTCMKTS:ASAZY) shares saw unusually-high trading volume on Tuesday . Approximately 650,690 shares were traded during mid-day 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 Upgrades and Downgrades

ASAZY has been the subject of a number of research reports. Evercore upgraded shares of Assa Abloy to a “hold” rating in a report on Monday, April 13th. Barclays restated an “overweight” rating on shares of Assa Abloy in a report on Monday. Royal Bank Of Canada initiated coverage on shares of Assa Abloy in a report on Tuesday. They issued an “outperform” rating for the company. Dnb Carnegie upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Finally, Pareto Securities upgraded shares of Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. One 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 company. According to MarketBeat, Assa Abloy currently has an average rating of “Moderate Buy”.

Assa Abloy Stock Up 2.0%

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 has a market cap of $40.69 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 2.24 and a beta of 1.17. The firm’s fifty day simple moving average is $18.66 and its 200 day simple moving average is $19.27.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%.The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.88 billion. Sell-side analysts predict that Assa Abloy AB will post 0.86 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.