Pareto Securities Upgrades Assa Abloy (OTCMKTS:ASAZY) to "Strong-Buy"

Key Points

• Pareto Securities upgraded Assa Abloy (OTCMKTS:ASAZY) from "hold" to strong-buy, and the stock carries a consensus "Buy" rating (three Strong Buy, one Buy, two Hold) after recent upgrades from Barclays and DNB Carnegie and a contrasting downgrade from Zacks.
• Assa Abloy reported quarterly EPS of $0.21 vs. $0.22 expected and revenue of $4.25B vs. $4.36B, and shares trade around $19.66 (1‑year range $13.45–$21.98) with a market cap of $43.75B and a P/E of about 26.6.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) was upgraded by stock analysts at Pareto Securities from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages have also weighed in on ASAZY. Citigroup restated a "buy" rating on shares of Assa Abloy in a report on Friday, February 6th. Barclays upgraded Assa Abloy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Dnb Carnegie upgraded Assa Abloy from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. Finally, Zacks Research lowered Assa Abloy from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Assa Abloy presently has a consensus rating of "Buy".

Assa Abloy Trading Up 0.6%

OTCMKTS:ASAZY opened at $19.66 on Wednesday. Assa Abloy has a 1 year low of $13.45 and a 1 year high of $21.98. The stock has a market cap of $43.75 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 2.22 and a beta of 1.22. The business has a fifty day moving average of $19.68 and a 200-day moving average of $19.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 1.03.

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