Assa Abloy (OTCMKTS:ASAZY) Upgraded by Evercore to “Hold” Rating

Assa Abloy (OTCMKTS:ASAZY) was upgraded by investment analysts at Evercore to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on ASAZY. Citigroup reiterated a “buy” rating on shares of Assa Abloy in a research report on Friday, February 6th. Zacks Research lowered shares of Assa Abloy from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Dnb Carnegie upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Barclays upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Finally, Pareto Securities upgraded shares of Assa Abloy from a “hold” rating to a “buy” rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Assa Abloy has a consensus rating of “Moderate Buy”.

Assa Abloy Stock Up 1.2%

OTCMKTS ASAZY opened at $19.84 on Monday. The firm has a market cap of $44.15 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.22 and a beta of 1.22. Assa Abloy has a one year low of $14.05 and a one year high of $21.98. The stock’s 50 day simple moving average is $19.66 and its 200 day simple moving average is $19.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.63.

Assa Abloy (OTCMKTS:ASAZY) last released its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Assa Abloy had a return on equity of 14.78% and a net margin of 9.74%.The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.36 billion. As a group, sell-side analysts forecast that Assa Abloy will post 0.69 earnings per share for the current fiscal 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.