Assa Abloy AB (OTCMKTS:ASAZY) Short Interest Down 45.2% in August

Key Points

• Short interest fell 45.2% to 54,544 shares as of August 31, representing about 0.0% of Assa Abloy’s outstanding stock and a days-to-cover ratio of just 0.2.
• Assa Abloy reported quarterly EPS of $0.21, matching analyst estimates, while revenue of $4.07 billion came slightly below the $4.09 billion consensus forecast.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating based on one Strong Buy, four Buy, and three Hold recommendations.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 54,544 shares, a decline of 45.2% from the August 15th total of 99,571 shares. Based on an average daily trading volume, of 244,201 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company's stock are short sold.

Assa Abloy Stock Performance

Shares of Assa Abloy stock opened at $17.48 on Tuesday. The firm has a market capitalization of $38.91 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.04 and a beta of 1.16. Assa Abloy has a fifty-two week low of $16.71 and a fifty-two week high of $21.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.63. The company's 50 day moving average price is $18.16 and its two-hundred day moving average price is $18.40.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last issued its earnings results on Friday, July 17th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.21. The business had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4.09 billion. Assa Abloy had a return on equity of 15.56% and a net margin of 10.82%. On average, equities analysts forecast that Assa Abloy will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

ASAZY has been the subject of a number of analyst reports. Royal Bank Of Canada initiated coverage on Assa Abloy in a research note on Tuesday, June 16th. They issued an "outperform" rating for the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Assa Abloy in a research note on Monday, July 20th. Zacks Research raised shares of Assa Abloy from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 10th. Finally, Barclays restated an "overweight" rating on shares of Assa Abloy in a research note on Monday, June 15th. 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 company. According to MarketBeat, Assa Abloy presently has an average rating of "Moderate Buy".

About Assa Abloy

Assa Abloy AB is a Sweden-based global provider of access solutions. The company develops, manufactures and sells products and technologies designed to secure, control and automate entry to buildings, facilities and other protected spaces.

Its offerings include mechanical and electromechanical locks, digital and mobile access systems, identification and security technologies, door hardware, entrance automation and security doors. Assa Abloy serves residential, commercial, institutional, hospitality, healthcare and industrial customers through a portfolio of regional and international brands, including ASSA, ABLOY, Yale and HID.

The company was formed in 1994 through the merger of Swedish lock manufacturer ASSA AB and Finnish lock manufacturer Abloy Oy.

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