Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume - Time to Buy?

Key Points

• Assa Abloy saw unusually heavy trading, with 1.65 million shares changing hands, nearly 396% above the prior session’s volume.
• Analyst sentiment remains constructive overall, with recent ratings including outperform, overweight, and upgrades to buy and strong-buy; the stock’s consensus rating is Moderate Buy.
• The company recently reported Q1 earnings below expectations, posting $0.17 EPS versus $0.20 expected and $3.85 billion in revenue versus $3.88 billion forecast.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) saw unusually-strong trading volume on Wednesday . 1,653,672 shares changed hands during mid-day trading, an increase of 396% from the previous session's volume of 333,440 shares.The stock last traded at $16.99 and had previously closed at $16.89.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank Of Canada started coverage on shares of Assa Abloy in a research note on Tuesday, June 16th. They set an "outperform" rating on the stock. Barclays reissued an "overweight" rating on shares of Assa Abloy in a research report on Monday, June 15th. Pareto Securities upgraded Assa Abloy from a "hold" rating to a "buy" rating in a research note on Wednesday, April 8th. Dnb Carnegie raised Assa Abloy from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. Finally, Evercore upgraded Assa Abloy to a "hold" rating in a report on Monday, April 13th. One 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, the stock presently has an average rating of "Moderate Buy".

Assa Abloy Price Performance

The firm has a 50-day moving average of $17.76 and a 200-day moving average of $19.04. 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 firm has a market capitalization of $38.18 billion, a P/E ratio of 22.58, a PEG ratio of 2.20 and a beta of 1.17.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share 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 business had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.88 billion. As a group, analysts predict that Assa Abloy AB will post 0.84 EPS for the current year.

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.

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