Akzo Nobel (OTCMKTS:AKZOY) Sets New 52-Week Low After Analyst Downgrade

Akzo Nobel NV (OTCMKTS:AKZOY) shares hit a new 52-week low during mid-day trading on Thursday after Barclays downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $18.04 and last traded at $18.1450, with a volume of 86055 shares changing hands. The stock had previously closed at $19.32.

AKZOY has been the topic of a number of other research reports. Sanford C. Bernstein downgraded Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Wall Street Zen downgraded Akzo Nobel from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. UBS Group upgraded shares of Akzo Nobel to a “hold” rating in a report on Monday, January 12th. Finally, Zacks Research lowered shares of Akzo Nobel from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Akzo Nobel presently has an average rating of “Hold”.

Akzo Nobel Trading Down 0.9%

The firm has a 50 day simple moving average of $22.41 and a 200 day simple moving average of $22.66. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $9.34 billion, a PE ratio of 12.89, a P/E/G ratio of 1.24 and a beta of 1.07.

Akzo Nobel (OTCMKTS:AKZOY) last posted its earnings results on Tuesday, February 3rd. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). Akzo Nobel had a net margin of 6.49% and a return on equity of 13.73%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.51 billion. Equities analysts expect that Akzo Nobel NV will post 1.52 earnings per share for the current fiscal year.

About Akzo Nobel

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.