Akzo Nobel (OTCMKTS:AKZOY) Stock Crosses Above 50-Day Moving Average – Here’s Why

Akzo Nobel NV (OTCMKTS:AKZOY)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $22.48 and traded as high as $23.72. Akzo Nobel shares last traded at $23.5550, with a volume of 95,610 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AKZOY shares. Zacks Research upgraded shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Akzo Nobel in a research note on Monday, June 29th. Finally, Citigroup initiated coverage on Akzo Nobel in a research note on Friday, June 5th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Akzo Nobel presently has a consensus rating of “Hold”.

Akzo Nobel Stock Up 1.4%

The stock has a market cap of $12.10 billion, a PE ratio of 16.47, a P/E/G ratio of 1.87 and a beta of 1.18. The business has a 50 day moving average of $22.48 and a 200-day moving average of $21.60. The company has a current ratio of 1.88, a quick ratio of 1.49 and a debt-to-equity ratio of 1.09.

Akzo Nobel (OTCMKTS:AKZOY) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Akzo Nobel had a net margin of 6.49% and a return on equity of 12.77%. Equities research analysts predict that Akzo Nobel NV will post 1.47 EPS 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.