Assa Abloy (OTCMKTS:ASAZY) Hits New 12-Month High - Should You Buy?

Key Points

• Assa Abloy shares reached a new 52-week high of $18.39 during trading, last closing at $18.32 with a volume of 158,367 shares.
• Equities analysts have downgraded Assa Abloy from a "strong-buy" to a "hold," with an average rating of "Hold" from multiple firms.
• The company reported quarterly earnings of $0.18 per share, below the anticipated $0.20, with total revenues of $3.89 billion.

Shares of Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $18.39 and last traded at $18.32, with a volume of 158367 shares changing hands. The stock had previously closed at $18.18.

Wall Street Analysts Forecast Growth

Separately, Barclays raised shares of Assa Abloy from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Assa Abloy Price Performance

The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.55. The company's 50-day simple moving average is $17.22 and its two-hundred day simple moving average is $15.97.

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