Zacks Investment Research Downgrades ASSA ABLOY AB (publ) (OTCMKTS:ASAZY) to Sell

ASSA ABLOY AB (publ) (OTCMKTS:ASAZYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, Zacks.com reports.

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. “

Other equities analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of ASSA ABLOY AB (publ) from SEK 255 to SEK 262 in a research note on Monday, January 10th. DNB Markets upgraded shares of ASSA ABLOY AB (publ) from a “hold” rating to a “buy” rating in a report on Monday, February 7th. Citigroup cut their price objective on shares of ASSA ABLOY AB (publ) from SEK 314 to SEK 305 and set a “buy” rating on the stock in a research report on Friday, March 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ASSA ABLOY AB (publ) from SEK 260 to SEK 270 in a research report on Thursday, January 13th. Finally, Barclays dropped their target price on shares of ASSA ABLOY AB (publ) from SEK 330 to SEK 320 in a research report on Tuesday, April 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $242.67.

ASSA ABLOY AB (publ) stock traded down $0.34 during midday trading on Monday, reaching $12.98. 161,718 shares of the company traded hands, compared to its average volume of 262,609. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.26 and a quick ratio of 0.81. ASSA ABLOY AB has a 12 month low of $11.54 and a 12 month high of $16.66. The firm has a market capitalization of $27.39 billion, a price-to-earnings ratio of 23.18 and a beta of 0.87. The business has a 50 day moving average of $13.37 and a two-hundred day moving average of $14.16.

ASSA ABLOY AB (publ) (OTCMKTS:ASAZYGet Rating) last announced its quarterly earnings data on Friday, February 4th. The industrial products company reported $0.15 EPS for the quarter. The firm had revenue of $2.89 billion for the quarter. ASSA ABLOY AB (publ) had a net margin of 11.48% and a return on equity of 16.34%. As a group, equities analysts forecast that ASSA ABLOY AB will post 0.6 EPS for the current year.

About ASSA ABLOY AB (publ) (Get Rating)

ASSA ABLOY AB (publ) provides door opening products, solutions, and services for the institutional, commercial, and residential markets in Europe, the Middle East, Africa, North and South America, Asia, and Oceania. The company offers mechanical and electromechanical locks, digital door locks, cylinders, door fittings, security doors, door frames, access control devices, and fire doors, as well as hardware products.

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