Assa Abloy AB (OTCMKTS:ASAZY) Short Interest Update

Key Points

• Short interest fell 58% to 56,115 shares as of July 31, representing 0.0% of shares outstanding and just 0.1 days to cover.
• Assa Abloy reported quarterly EPS of $0.21, matching estimates, while revenue of $4.07 billion came in slightly below the $4.09 billion consensus forecast.
• Analysts maintain a “Moderate Buy” consensus, with one Strong Buy, four Buy, and three Hold ratings; the stock opened at $18.70 and has a $41.61 billion market capitalization.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 56,115 shares, a drop of 58.0% from the July 15th total of 133,512 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 650,627 shares, the days-to-cover ratio is currently 0.1 days.

Assa Abloy Stock Performance

OTCMKTS:ASAZY opened at $18.70 on Friday. The firm's fifty day simple moving average is $17.87 and its 200 day simple moving average is $18.83. The company has a current ratio of 1.01, a quick ratio of 0.63 and a debt-to-equity ratio of 0.43. Assa Abloy has a twelve month low of $16.71 and a twelve month high of $21.98. The firm has a market capitalization of $41.61 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.19 and a beta of 1.16.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The industrial products company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.09 billion. Assa Abloy had a return on equity of 15.56% and a net margin of 10.82%. As a group, equities research analysts expect that Assa Abloy will post 0.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ASAZY shares. Royal Bank Of Canada began coverage on Assa Abloy in a research report on Tuesday, June 16th. They set an "outperform" rating for the company. Zacks Research upgraded Assa Abloy from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 10th. Barclays reaffirmed an "overweight" rating on shares of Assa Abloy in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Assa Abloy in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source