Assa Abloy AB (OTCMKTS:ASAZY) Stock Short Interest Climbs 116.0%

Key Points

• Short interest in Assa Abloy surged 116% to 56,607 shares as of September 30, though short positions represent 0.0% of outstanding stock and just 0.1 days of trading volume to cover.
• The stock opened at $17.27, down 0.9%, with a market capitalization of $38.43 billion. Its latest quarterly results met earnings expectations at $0.21 per share, while revenue of $4.07 billion was slightly below estimates.
• Analyst sentiment remains positive overall, with one Strong Buy, four Buy, and three Hold ratings, resulting in a consensus “Moderate Buy” rating.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 56,607 shares, an increase of 116.0% from the September 15th total of 26,206 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 488,053 shares, the days-to-cover ratio is presently 0.1 days.

Assa Abloy Trading Down 0.9%

Assa Abloy stock opened at $17.27 on Tuesday. 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 capitalization of $38.43 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.04 and a beta of 1.15. Assa Abloy has a one year low of $16.82 and a one year high of $21.98. The company's fifty day moving average price is $18.14 and its two-hundred day moving average price is $18.18.

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

Analysts Set New Price Targets

A number of research firms recently commented on ASAZY. Barclays restated an "overweight" rating on shares of Assa Abloy in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Assa Abloy in a research note on Thursday, September 17th. Finally, Royal Bank Of Canada started coverage on shares of Assa Abloy in a research report on Tuesday, June 16th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Assa Abloy Company Profile

ASSA ABLOY AB is a Sweden-based global provider of access solutions. The company develops, manufactures and sells products and technologies designed to secure, manage and automate access to buildings, facilities and other environments.

Its product portfolio includes mechanical and electronic locks, access-control systems, identification and security technologies, entrance automation equipment, security doors and related software and services. ASSA ABLOY serves residential, commercial, institutional and industrial customers, as well as hospitality, healthcare and other specialized markets.

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

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