Assa Abloy (OTCMKTS:ASAZY) Shares Gap Up – Time to Buy?

Assa Abloy AB (OTCMKTS:ASAZY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $17.15, but opened at $17.8950. Assa Abloy shares last traded at $18.0225, with a volume of 13,542 shares.

Wall Street Analyst Weigh In

ASAZY has been the topic of a number of recent research reports. Barclays reissued an “overweight” rating on shares of Assa Abloy in a research note on Monday, June 15th. Zacks Research raised Assa Abloy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada initiated coverage on shares of Assa Abloy in a research note on Tuesday, June 16th. They issued an “outperform” rating on the stock. Dnb Carnegie raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Pareto Securities upgraded shares of Assa Abloy from a “hold” rating to a “buy” rating in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Assa Abloy Stock Performance

The company has a market capitalization of $39.99 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17. The company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $17.65 and its two-hundred day moving average is $19.00.

Assa Abloy (OTCMKTS:ASAZY) last issued its earnings results on Friday, July 17th. The industrial products company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.09 billion. Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%. Equities research analysts predict that Assa Abloy AB will post 0.84 earnings per share 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.