Assa Abloy (OTCMKTS:ASAZY) Reaches New 12-Month High – Here’s What Happened

Assa Abloy AB (OTCMKTS:ASAZY)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $19.7850 and last traded at $19.7850, with a volume of 6533 shares trading hands. The stock had previously closed at $19.40.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Assa Abloy in a research note on Thursday, November 20th. Citigroup upgraded shares of Assa Abloy from a “neutral” rating to a “buy” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Assa Abloy has an average rating of “Hold”.

Assa Abloy Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.06 and a quick ratio of 0.66. The company has a fifty day moving average of $18.92 and a 200 day moving average of $17.64. The firm has a market capitalization of $44.17 billion, a P/E ratio of 27.96, a PEG ratio of 2.75 and a beta of 1.21.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Assa Abloy had a net margin of 9.57% and a return on equity of 14.24%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.95 billion. Sell-side analysts predict that Assa Abloy AB will post 0.69 earnings per share for the current year.

About Assa Abloy

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.