Assa Abloy (OTCMKTS:ASAZY) Sets New 12-Month High - Here's Why

Key Points

• Assa Abloy reached a new 12-month high, trading at $17.27, with a significant volume of 113,537 shares exchanged.
• Analysts have mixed views on the stock, with Citigroup upgrading it to "neutral" while Pareto Securities downgraded it to "hold."
• The company reported quarterly EPS of $0.18, missing estimates, and anticipates a total of $0.69 EPS for the current year.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $17.27 and last traded at $17.27, with a volume of 113537 shares changing hands. The stock had previously closed at $16.88.

Wall Street Analysts Forecast Growth

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

Assa Abloy Stock Up 2.3%

The firm has a market capitalization of $38.43 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 2.36 and a beta of 1.19. The stock has a fifty day moving average of $16.09 and a two-hundred day moving average of $15.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.10 and a quick ratio of 0.68.

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

Assa Abloy Company Profile

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.

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