Akzo Nobel (OTCMKTS:AKZOY) Sees Strong Trading Volume – Time to Buy?

Akzo Nobel NV (OTCMKTS:AKZOY) saw strong trading volume on Wednesday . Approximately 663,055 shares were traded during trading, an increase of 284% from the previous session’s volume of 172,797 shares.The stock last traded at $22.93 and had previously closed at $23.37.

Analysts Set New Price Targets

Several research analysts have weighed in on AKZOY shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Akzo Nobel in a research report on Monday, June 29th. Citigroup began coverage on Akzo Nobel in a research note on Friday, June 5th. They set a “buy” rating on the stock. Finally, Zacks Research raised Akzo Nobel from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Akzo Nobel currently has a consensus rating of “Hold”.

Akzo Nobel Trading Down 2.0%

The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18. The business has a 50 day moving average of $23.08 and a 200 day moving average of $21.67. The company has a quick ratio of 1.49, a current ratio of 1.88 and a debt-to-equity ratio of 1.09.

Akzo Nobel (OTCMKTS:AKZOY) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.96 billion. Akzo Nobel had a net margin of 6.49% and a return on equity of 12.77%. On average, research analysts forecast that Akzo Nobel NV will post 1.47 earnings per share for the current fiscal year.

Akzo Nobel Company Profile

Akzo Nobel N.V. is a Dutch multinational company specializing in paints, coatings and specialty chemicals. Established through the 1994 merger of Akzo and Nobel Industries, the company traces its roots back to chemical and saltpeter production in the Netherlands. Today, Akzo Nobel is recognized as one of the world’s leading coatings manufacturers, serving both decorative and industrial markets.

The company’s business is organized into three principal segments: Decorative Paints, Performance Coatings and Specialty Chemicals.