Assa Abloy (OTCMKTS:ASAZY) Stock Price Passes Below Fifty Day Moving Average - What's Next?

Key Points

• Assa Abloy shares fell below their 50-day moving average, trading down 1.3% at $17.51 versus the $18.17 average, with 280,078 shares changing hands.
• Analyst sentiment remains positive overall, with one Strong Buy, four Buy and three Hold ratings, producing a “Moderate Buy” consensus from MarketBeat.
• The company’s latest quarterly results matched expectations at $0.21 EPS, while revenue of $4.07 billion came in slightly below the $4.09 billion analyst estimate.

Shares of Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $18.17 and traded as low as $17.51. Assa Abloy shares last traded at $17.51, with a volume of 280,078 shares traded.

Analysts Set New Price Targets

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

Assa Abloy Trading Down 1.3%

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 business's 50-day moving average is $18.17 and its 200 day moving average is $18.45. The firm has a market capitalization of $38.96 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.07 and a beta of 1.16.

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, 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 firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.09 billion. As a group, analysts anticipate 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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