Assa Abloy AB (OTCMKTS:ASAZY) Short Interest Up 319.1% in July

Key Points

• Short interest in Assa Abloy AB surged 319.1% in July, rising to 133,512 shares as of July 15 from 31,857 shares at the end of June.
• The company reported quarterly EPS of $0.21, matching analyst estimates, while revenue of $4.07 billion came in slightly below expectations of $4.09 billion.
• Analyst sentiment remains constructive overall, with the stock carrying an average “Moderate Buy” rating after recent upgrades and reiterated hold/outperform calls.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 133,512 shares, a growth of 319.1% from the June 30th total of 31,857 shares. Based on an average trading volume of 1,341,690 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company's shares are sold short.

Assa Abloy Trading Up 1.3%

Shares of ASAZY stock opened at $17.80 on Friday. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. The company has a quick ratio of 0.61, a current ratio of 1.00 and a debt-to-equity ratio of 0.41. Assa Abloy has a fifty-two week low of $16.34 and a fifty-two week high of $21.98. The firm's 50 day moving average price is $17.57 and its two-hundred day moving average price is $18.94.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The industrial products company reported $0.21 earnings per share for the quarter, hitting analysts' consensus estimates of $0.21. Assa Abloy had a net margin of 10.82% and a return on equity of 15.86%. The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4.09 billion. On average, analysts anticipate that Assa Abloy will post 0.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ASAZY. Dnb Carnegie raised shares of Assa Abloy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Royal Bank Of Canada assumed coverage on shares of Assa Abloy in a research note on Tuesday, June 16th. They set an "outperform" rating for the company. Evercore upgraded Assa Abloy to a "hold" rating in a report on Monday, April 13th. Zacks Research raised Assa Abloy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Assa Abloy in a report on Monday, July 20th. 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.com, Assa Abloy presently has an average rating of "Moderate Buy".

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.

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