Assa Abloy (OTCMKTS:ASAZY) Downgraded by Zacks Research to Strong Sell

Assa Abloy (OTCMKTS:ASAZY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Citigroup reissued a “buy” rating on shares of Assa Abloy in a report on Friday, February 6th. Barclays raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Pareto Securities upgraded shares of Assa Abloy from a “hold” rating to a “buy” rating in a research report on Wednesday, April 8th. Evercore raised shares of Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Finally, Dnb Carnegie upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Assa Abloy has an average rating of “Moderate Buy”.

Assa Abloy Price Performance

Shares of Assa Abloy stock opened at $18.34 on Tuesday. The stock has a market cap of $40.81 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.37 and a beta of 1.20. 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 stock’s fifty day moving average is $18.99 and its 200 day moving average is $19.43. Assa Abloy has a one year low of $14.81 and a one year high of $21.98.

Assa Abloy (OTCMKTS:ASAZY) last released 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 company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.88 billion. Sell-side analysts anticipate that Assa Abloy 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.