ASSA ABLOY AB (publ) (OTCMKTS:ASAZY) Stock Rating Upgraded by Zacks Investment Research

ASSA ABLOY AB (publ) (OTCMKTS:ASAZY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $17.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 16.68% from the company’s current price.

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. “

Several other brokerages have also recently weighed in on ASAZY. Barclays reiterated an “overweight” rating on shares of ASSA ABLOY AB (publ) in a research note on Tuesday, July 20th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ASSA ABLOY AB (publ) in a research report on Tuesday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ASSA ABLOY AB (publ) in a research note on Tuesday, September 21st. Citigroup restated a “buy” rating on shares of ASSA ABLOY AB (publ) in a research note on Tuesday, July 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of ASSA ABLOY AB (publ) in a research note on Wednesday, September 22nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

OTCMKTS:ASAZY traded down $0.39 during mid-day trading on Tuesday, hitting $14.57. 120,017 shares of the stock traded hands, compared to its average volume of 105,998. ASSA ABLOY AB has a 12-month low of $10.56 and a 12-month high of $16.66. The company has a market cap of $30.74 billion, a PE ratio of 26.02 and a beta of 0.82. The company has a quick ratio of 0.80, a current ratio of 1.19 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $15.92 and its 200 day moving average price is $15.34.

ASSA ABLOY AB (publ) (OTCMKTS:ASAZY) last issued its quarterly earnings data on Monday, July 19th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. The business had revenue of $2.81 billion for the quarter. ASSA ABLOY AB (publ) had a net margin of 11.63% and a return on equity of 17.26%. Analysts anticipate that ASSA ABLOY AB will post 0.59 earnings per share for the current fiscal year.

ASSA ABLOY AB (publ) Company Profile

Assa Abloy AB engages in the provision of intelligent lock and security solutions. It operates through the following divisions: Europe, Middle East and Africa (EMEA); Americas; Asia Pacific; Global Technologies and Entrance Systems. The EMEA, Americas and Asia Pacific divisions manufacture and sell mechanical and electromechanical locks, security doors and hardware in their respective geographical markets.

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Analyst Recommendations for ASSA ABLOY AB (publ) (OTCMKTS:ASAZY)

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