Assa Abloy (ASAZY) Rating Lowered to Hold at Zacks Investment Research

Assa Abloy (NASDAQ:ASAZY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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 research firms also recently weighed in on ASAZY. Imperial Capital cut their price target on Assa Abloy from $11.50 to $10.00 and set an “in-line” rating on the stock in a research note on Wednesday. BNP Paribas upgraded Assa Abloy from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 29th. Finally, Barclays PLC upgraded Assa Abloy from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, December 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.00.

Shares of Assa Abloy (NASDAQ:ASAZY) traded up 0.813% during mid-day trading on Friday, hitting $9.547. The company’s stock had a trading volume of 56,678 shares. The stock’s 50 day moving average price is $9.32 and its 200 day moving average price is $9.76. The company has a market cap of $21.21 billion and a price-to-earnings ratio of 27.915. Assa Abloy has a 52-week low of $8.80 and a 52-week high of $11.23.

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