Assa Abloy (OTCMKTS:ASAZY) Sees Strong Trading Volume – Should You Buy?

Assa Abloy AB (OTCMKTS:ASAZY) shares saw an uptick in trading volume on Thursday . 1,217,659 shares changed 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 Analyst Weigh In

ASAZY has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Assa Abloy in a research report on Thursday. Royal Bank Of Canada started coverage on shares of Assa Abloy in a research report on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, Barclays reaffirmed an “overweight” rating on shares of Assa Abloy in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Assa Abloy Price Performance

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 stock has a market capitalization of $39.26 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16. The stock has a 50 day moving average price of $18.18 and a 200-day moving average price of $18.32.

Assa Abloy (OTCMKTS:ASAZY) last posted its quarterly earnings data on Friday, July 17th. The industrial products company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Assa Abloy had a return on equity of 15.56% and a net margin of 10.82%.The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.09 billion. On average, analysts forecast that Assa Abloy AB will post 0.84 earnings per share for the current year.

Assa Abloy Company Profile

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.