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

ASSA ABLOY AB (publ) (OTCMKTS:ASAZYGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, 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. “

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of ASSA ABLOY AB (publ) from SEK 290 to SEK 285 and set a “neutral” rating for the company in a report on Tuesday, March 22nd. Citigroup dropped their price objective on shares of ASSA ABLOY AB (publ) from SEK 314 to SEK 305 and set a “buy” rating for the company in a report on Friday, March 18th. Morgan Stanley lifted their price objective on shares of ASSA ABLOY AB (publ) from SEK 269 to SEK 280 and gave the stock an “equal weight” rating in a report on Friday, April 29th. Barclays dropped their price objective on shares of ASSA ABLOY AB (publ) from SEK 330 to SEK 320 in a report on Tuesday, April 5th. Finally, DNB Markets raised shares of ASSA ABLOY AB (publ) from a “hold” rating to a “buy” rating in a report on Monday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $245.50.

Shares of OTCMKTS ASAZY traded down $0.45 during mid-day trading on Thursday, reaching $11.54. 132,438 shares of the company were exchanged, compared to its average volume of 239,810. ASSA ABLOY AB has a 52 week low of $10.99 and a 52 week high of $16.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.81 and a current ratio of 1.26. The company’s 50 day moving average price is $12.92 and its 200 day moving average price is $13.85.

ASSA ABLOY AB (publ) Company Profile (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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