Short Interest in Assa Abloy AB (OTCMKTS:ASAZY) Declines By 81.7%

Assa Abloy AB (OTCMKTS:ASAZY) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 21,794 shares, a decline of 81.7% from the April 30th total of 118,900 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 371,357 shares, the days-to-cover ratio is currently 0.1 days.

Assa Abloy Stock Performance

Shares of Assa Abloy stock opened at $18.20 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. Assa Abloy has a twelve month low of $14.81 and a twelve month high of $21.98. The stock has a market cap of $40.50 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 2.28 and a beta of 1.20. The company’s fifty day moving average is $18.73 and its 200 day moving average is $19.37.

Assa Abloy (OTCMKTS:ASAZY) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%.The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.88 billion. Sell-side analysts forecast that Assa Abloy will post 0.86 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Zacks Research cut shares of Assa Abloy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Barclays raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Dnb Carnegie raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Citigroup reissued a “buy” rating on shares of Assa Abloy in a research note on Friday, February 6th. Finally, Evercore raised shares of Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Assa Abloy presently has a consensus rating of “Moderate Buy”.

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.