ASSA ABLOY AB/S (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 firm currently has a $11.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 7.74% from the company’s previous close.
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. “
ASAZY has been the subject of several other research reports. Deutsche Bank reiterated a “hold” rating on shares of ASSA ABLOY AB/S in a research note on Thursday, April 9th. Morgan Stanley reaffirmed an “equal weight” rating on shares of ASSA ABLOY AB/S in a research report on Thursday, April 30th. Jefferies Financial Group raised shares of ASSA ABLOY AB/S from a “hold” rating to a “buy” rating in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ASSA ABLOY AB/S in a report on Wednesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. ASSA ABLOY AB/S has an average rating of “Hold” and an average price target of $11.00.
ASSA ABLOY AB/S stock traded up $0.12 during midday trading on Tuesday, reaching $10.21. 70,353 shares of the company were exchanged, compared to its average volume of 103,987. The firm’s 50-day simple moving average is $10.02 and its 200-day simple moving average is $10.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.73 and a current ratio of 1.14. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 22.20 and a beta of 0.80. ASSA ABLOY AB/S has a 1 year low of $7.62 and a 1 year high of $12.61.
ASSA ABLOY AB/S (OTCMKTS:ASAZY) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.09. The business had revenue of $2.29 billion during the quarter. ASSA ABLOY AB/S had a return on equity of 16.79% and a net margin of 10.18%. On average, analysts forecast that ASSA ABLOY AB/S will post 0.4 EPS for the current fiscal year.
About ASSA ABLOY AB/S
ASSA ABLOY AB (publ) provides door opening products, solutions, and services for the institutional, commercial, and consumer 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, industrial high-security fencings and gates, and fire doors, as well as hardware products.
Further Reading: What are Institutional Investors?
Get a free copy of the Zacks research report on ASSA ABLOY AB/S (ASAZY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ASSA ABLOY AB/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ASSA ABLOY AB/S and related companies with MarketBeat.com's FREE daily email newsletter.