Assa Abloy (OTCMKTS:ASAZY) Share Price Crosses Below 50-Day Moving Average - Here's Why

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $19.90 and traded as low as $17.51. Assa Abloy shares last traded at $17.95, with a volume of 241,513 shares.Wall Street Analyst Weigh InA number of research analysts have issued reports on the company. Citigroup reissued a "buy" rating on shares of Assa Abloy in a report on Friday, February 6th. Zacks Research cut shares of Assa Abloy from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 9th. Finally, Barclays raised shares of Assa Abloy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".View Our Latest Stock Report on ASAZYAssa Abloy Price PerformanceThe company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $19.90 and a 200 day moving average price of $19.09. The stock has a market capitalization of $39.94 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.95 and a beta of 1.20. Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.36 billion. Assa Abloy had a return on equity of 14.78% and a net margin of 9.74%. As a group, equities research analysts expect that Assa Abloy AB will post 0.69 earnings per share for the current year. About Assa Abloy (Get Free Report)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.Featured ArticlesFive stocks we like better than Assa AbloyThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Assa Abloy Right Now?Before you consider Assa Abloy, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Assa Abloy wasn't on the list.While Assa Abloy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here