Assa Abloy (OTCMKTS:ASAZY) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Trading volume surged: Assa Abloy shares traded 1.22 million shares, up 287% from the prior session, while the stock rose 0.8% to $17.57.
• Analyst sentiment is favorable: The company has an average “Moderate Buy” rating, with one Strong Buy, four Buy, and three Hold ratings; RBC initiated coverage with an Outperform rating and Barclays maintained Overweight.
• Latest results were broadly in line: Assa Abloy reported quarterly EPS of $0.21, matching estimates, while revenue of $4.07 billion slightly missed the $4.09 billion consensus. Analysts expect approximately $0.84 in EPS for the current fiscal year.

Shares of Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) saw unusually-high trading volume on Thursday . 1,217,659 shares traded hands during mid-day trading, an increase of 287% from the previous session's volume of 314,914 shares.The stock last traded at $17.57 and had previously closed at $17.39.

Wall Street Analysts Forecast Growth

ASAZY has been the subject of a number of recent research reports. Royal Bank Of Canada began coverage on Assa Abloy in a research note on Tuesday, June 16th. They set an "outperform" rating for the company. Zacks Research raised shares of Assa Abloy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, June 10th. Barclays reaffirmed an "overweight" rating on shares of Assa Abloy in a research report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Assa Abloy in a report on Thursday. One investment 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 data from MarketBeat.com, Assa Abloy currently has an average rating of "Moderate Buy".

Assa Abloy Stock Up 0.8%

The stock has a market capitalization of $39.01 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.04 and a beta of 1.16. The business has a 50-day moving average price of $18.16 and a 200 day moving average price of $18.35. The company has a current ratio of 1.01, a quick ratio of 0.63 and a debt-to-equity ratio of 0.43.

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

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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