Assa Abloy AB (OTCMKTS:ASAZY) Short Interest Up 77.4% in August

Key Points

• Short interest in Assa Abloy rose 77.4% to 99,571 shares as of August 14, up from 56,115 shares on July 30. Despite the increase, short interest represents approximately 0.0% of shares outstanding, with a short-interest ratio of 0.4 days.
• Assa Abloy shares opened at $18.50, compared with a 52-week range of $16.71 to $21.98. The company’s latest quarterly results matched expectations at $0.21 EPS, while revenue of $4.07 billion fell slightly short of estimates.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating based on one Strong Buy, four Buy, and three Hold ratings.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 99,571 shares, a growth of 77.4% from the July 30th total of 56,115 shares. Based on an average trading volume of 247,793 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the company's stock are sold short.

Assa Abloy Price Performance

Shares of OTCMKTS ASAZY opened at $18.50 on Monday. 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 has a market cap of $41.18 billion, a PE ratio of 23.42, a P/E/G ratio of 2.16 and a beta of 1.16. The stock has a fifty day moving average price of $18.04 and a 200 day moving average price of $18.65. Assa Abloy has a 1-year low of $16.71 and a 1-year high of $21.98.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last issued its quarterly 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. Assa Abloy had a net margin of 10.82% and a return on equity of 15.56%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.09 billion. Sell-side analysts forecast that Assa Abloy will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

ASAZY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Assa Abloy in a research note on Monday, July 20th. Royal Bank Of Canada started coverage on shares of Assa Abloy in a report on Tuesday, June 16th. They set an "outperform" rating on the stock. Zacks Research upgraded shares of Assa Abloy from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Finally, Barclays reissued an "overweight" rating on shares of Assa Abloy in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

About Assa Abloy

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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