Akzo Nobel (OTCMKTS:AKZOY) Sees Strong Trading Volume – Here’s What Happened

Shares of Akzo Nobel NV (OTCMKTS:AKZOY) saw unusually-strong trading volume on Friday . Approximately 404,278 shares were traded during mid-day trading, an increase of 149% from the previous session’s volume of 162,102 shares.The stock last traded at $24.03 and had previously closed at $23.87.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AKZOY. Citigroup began coverage on Akzo Nobel in a research note on Friday, June 5th. They issued a “buy” rating for the company. Zacks Research raised Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Akzo Nobel in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Akzo Nobel has a consensus rating of “Hold”.

Akzo Nobel Trading Up 1.1%

The company has a debt-to-equity ratio of 1.09, a current ratio of 1.88 and a quick ratio of 1.49. The stock has a 50-day moving average price of $23.00 and a two-hundred day moving average price of $21.71. The stock has a market cap of $12.39 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Akzo Nobel (OTCMKTS:AKZOY) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 EPS 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 analysts’ expectations of $2.96 billion. Akzo Nobel had a return on equity of 12.77% and a net margin of 6.49%. Sell-side 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.