ASSA ABLOY AB (publ) (OTCMKTS:ASAZY) Upgraded to “Buy” at Zacks Investment Research

ASSA ABLOY AB (publ) (OTCMKTS:ASAZY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $17.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 16.68% from the company’s previous close.

According to Zacks, “Assa Abloy AB offers locks and security products. Its product offer include mechanical locks such as door locks and cylinder locks and security doors, electromechanical locks, electronic locks, door closers, door automatics, access control systems. Assa Abloy also provides secure identity solutions, contactless identification technology solutions, electronic lock systems and safes for hotels and cruise ships. The Company primarily sells in Europe and in North America. Assa Abloy AB is based in Stockholm, Sweden. “

ASAZY has been the subject of a number of other research reports. Cheuvreux cut shares of ASSA ABLOY AB (publ) from a “buy” rating to a “hold” rating in a research note on Thursday, June 24th. Barclays reiterated an “overweight” rating on shares of ASSA ABLOY AB (publ) in a research note on Tuesday, July 20th. Citigroup reiterated a “buy” rating on shares of ASSA ABLOY AB (publ) in a research note on Tuesday, July 20th. UBS Group reiterated a “buy” rating on shares of ASSA ABLOY AB (publ) in a research note on Tuesday, July 20th. Finally, Nordea Equity Research cut shares of ASSA ABLOY AB (publ) from a “buy” rating to a “hold” rating in a research note on Friday, June 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.00.

Shares of OTCMKTS:ASAZY traded down $0.39 during midday trading on Tuesday, hitting $14.57. The company’s stock had a trading volume of 120,017 shares, compared to its average volume of 105,998. The stock has a market capitalization of $30.74 billion, a price-to-earnings ratio of 26.02 and a beta of 0.82. The stock’s 50 day simple moving average is $15.92 and its 200 day simple moving average is $15.34. ASSA ABLOY AB has a fifty-two week low of $10.56 and a fifty-two week high of $16.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.19.

ASSA ABLOY AB (publ) (OTCMKTS:ASAZY) last issued its quarterly earnings results on Monday, July 19th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. ASSA ABLOY AB (publ) had a return on equity of 17.26% and a net margin of 11.63%. The company had revenue of $2.81 billion for the quarter. As a group, analysts anticipate that ASSA ABLOY AB will post 0.59 EPS for the current year.

About ASSA ABLOY AB (publ)

Assa Abloy AB engages in the provision of intelligent lock and security solutions. It operates through the following divisions: Europe, Middle East and Africa (EMEA); Americas; Asia Pacific; Global Technologies and Entrance Systems. The EMEA, Americas and Asia Pacific divisions manufacture and sell mechanical and electromechanical locks, security doors and hardware in their respective geographical markets.

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