Assa Abloy (OTCMKTS:ASAZY) Cut to Hold at Zacks Research

Zacks Research cut shares of Assa Abloy (OTCMKTS:ASAZY) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. Citigroup reissued a “buy” rating on shares of Assa Abloy in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Assa Abloy in a report on Thursday, November 20th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Assa Abloy Stock Performance

ASAZY opened at $21.83 on Monday. The company’s 50 day moving average is $19.85 and its 200 day moving average is $18.59. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. The company has a market cap of $48.57 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 3.15 and a beta of 1.21. Assa Abloy has a 12-month low of $12.76 and a 12-month high of $21.98.

Assa Abloy (OTCMKTS:ASAZY) last announced its 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 net margin of 9.74% and a return on equity of 14.85%. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.36 billion. On average, equities research analysts predict that Assa Abloy will post 0.69 EPS 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.