Assa Abloy (OTCMKTS:ASAZY) Hits New 1-Year High - Time to Buy?

Key Points

• Assa Abloy has reached a new 52-week high of $17.06, indicating strong market performance with a trading volume of 193,893 shares.
• Analysts have mixed opinions, with Citigroup upgrading the stock from "sell" to "neutral," while Pareto Securities downgraded it from "strong-buy" to "hold."
• The company's latest quarterly earnings showed a miss on estimates, reporting $0.18 EPS against the $0.20 consensus, highlighting challenges in revenue generation despite a substantial market cap of $37.96 billion.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $17.06 and last traded at $17.04, with a volume of 193893 shares traded. The stock had previously closed at $16.68.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ASAZY. Citigroup upgraded shares of Assa Abloy from a "sell" rating to a "neutral" rating in a report on Monday, April 28th. Pareto Securities lowered shares of Assa Abloy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 21st.

Assa Abloy Price Performance

The company has a fifty day moving average price of $16.03 and a two-hundred day moving average price of $15.47. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.55.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last posted its earnings results on Thursday, July 17th. The industrial products company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Assa Abloy had a return on equity of 14.16% and a net margin of 9.48%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $38.05 billion. On average, sell-side analysts predict that Assa Abloy AB will post 0.69 EPS for the current year.

About Assa Abloy

ASSA ABLOY AB (publ) provides door opening and access products, solutions, and services for the institutional, commercial, and residential markets in Europe, the Middle East, India, Africa, North and South America, Asia, and Oceania. The company provides digital access solutions, such as electronic access control ecosystem, wireless solutions, electronic key solutions, standalone access solutions, and wired solutions; swing, revolving, and sliding doors; mechanical products, including hinges, lever handles, mortise lockcases, euro profile cylinders, panic exit devices, door closers, floor spring, and general hardware; and doors.