Assa Abloy (OTCMKTS:ASAZY) Trading Down 4.3% - Here's What Happened

Key Points

• Assa Abloy shares fell 4.3% in mid-day trading Tuesday, slipping to about $17.19 after previously closing at $17.97.
• Trading volume was very light, with only about 7,474 shares changing hands versus an average daily volume of 352,820, suggesting the move happened on limited activity.
• Recent analyst coverage has been mostly constructive: the stock carries a Moderate Buy consensus rating, and the company most recently reported earnings of $0.21 per share, matching estimates while revenue came in slightly below expectations.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) shares dropped 4.3% during mid-day trading on Tuesday . The company traded as low as $17.18 and last traded at $17.1895. Approximately 7,474 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 352,820 shares. The stock had previously closed at $17.97.

Wall Street Analyst Weigh In

Several research firms have recently commented on ASAZY. Royal Bank Of Canada initiated coverage on shares of Assa Abloy in a research report on Tuesday, June 16th. They set an "outperform" rating for the company. Evercore upgraded shares of Assa Abloy to a "hold" rating in a report on Monday, April 13th. Dnb Carnegie raised shares of Assa Abloy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Assa Abloy in a report on Monday. Finally, Zacks Research raised shares of Assa Abloy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Assa Abloy Price Performance

The firm has a market cap of $38.90 billion, a PE ratio of 22.13, a P/E/G ratio of 2.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.00 and a quick ratio of 0.61. The business's fifty day moving average is $17.62 and its 200-day moving average is $18.99.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last released its earnings results on Friday, July 17th. The industrial products company reported $0.21 earnings per share for the quarter, meeting analysts' consensus estimates of $0.21. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.09 billion. Assa Abloy had a net margin of 10.82% and a return on equity of 15.86%. On average, research analysts predict that Assa Abloy AB will post 0.84 earnings per share for the current fiscal year.

Assa Abloy Company Profile

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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