Assa Abloy (OTCMKTS:ASAZY) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Trading volume surged 181% to 836,453 shares, versus an average of 297,661; shares traded at $20.57, up from the prior close of $19.894.
• Analyst views are mixed: four rate Assa Abloy Buy and four Hold, resulting in a MarketBeat consensus of “Moderate Buy.”
• The company reported quarterly EPS of $0.22, missing the $0.23 consensus, and revenue of $4.09 billion, below expectations of $4.13 billion.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) shares saw an uptick in trading volume on Wednesday. 836,453 shares traded hands during trading, an increase of 181% from the average daily volume of 297,661 shares. The stock last traded at $20.57 and had previously closed at $19.8940.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ASAZY shares. Citigroup reiterated a "buy" rating on shares of Assa Abloy in a research report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Assa Abloy in a report on Thursday, September 17th. Finally, Dnb Carnegie downgraded shares of Assa Abloy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Assa Abloy presently has an average rating of "Moderate Buy".

Assa Abloy Price Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.63 and a current ratio of 1.01. The company has a 50-day moving average of $18.09 and a 200-day moving average of $18.68. The stock has a market cap of $45.77 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.43 and a beta of 1.16.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). Assa Abloy had a net margin of 10.99% and a return on equity of 15.83%. The firm had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.13 billion. As a group, equities research analysts predict that Assa Abloy AB will post 0.83 earnings per share for the current year.

Assa Abloy Company Profile

Assa Abloy AB is a Sweden-based global provider of access solutions. The company develops, manufactures and sells products and systems that help secure, manage and automate access to buildings, properties and other facilities.

Its portfolio includes mechanical and electromechanical locks, electronic access-control systems, digital identification and authentication solutions, door hardware, security doors, entrance automation equipment and security solutions for hotels. Assa Abloy also provides related services, software and integrated systems for commercial, institutional, residential and industrial customers.

The company was formed in 1994 through the merger of Assa in Sweden and Abloy in Finland.

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