Assa Abloy (OTCMKTS:ASAZY) Upgraded by Evercore to "Hold" Rating

Key Points

• Evercore upgraded Assa Abloy (OTCMKTS:ASAZY) to a "hold" rating; overall analyst coverage now includes two Strong Buy, two Buy and three Hold ratings, giving an average MarketBeat rating of "Moderate Buy".
• In its most recent quarter Assa Abloy reported EPS of $0.21 versus $0.22 expected and revenue of $4.25 billion versus $4.36 billion expected, missing both consensus figures; analysts forecast about $0.69 EPS for the current fiscal year.
• The stock opened at $19.84 (12‑month range $14.05–$21.98), with a market capitalization of $44.15 billion and a trailing PE of 26.81; balance‑sheet metrics include a quick ratio of 0.63, current ratio 1.03 and debt/equity of 0.46.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) was upgraded by analysts at Evercore to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Barclays upgraded Assa Abloy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Citigroup reiterated a "buy" rating on shares of Assa Abloy in a research note on Friday, February 6th. Pareto Securities upgraded Assa Abloy from a "hold" rating to a "buy" rating in a research note on Wednesday, April 8th. Dnb Carnegie upgraded Assa Abloy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Finally, Zacks Research lowered Assa Abloy from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Assa Abloy presently has an average rating of "Moderate Buy".

Assa Abloy Stock Performance

OTCMKTS:ASAZY opened at $19.84 on Monday. Assa Abloy has a 12-month low of $14.05 and a 12-month high of $21.98. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $44.15 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.22 and a beta of 1.22. The firm has a 50-day moving average price of $19.66 and a 200 day moving average price of $19.18.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Assa Abloy had a return on equity of 14.78% and a net margin of 9.74%.The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.36 billion. Research analysts anticipate that Assa Abloy will post 0.69 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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