Akzo Nobel (AKZOY) Rating Increased to Buy at Zacks Investment Research

Akzo Nobel (OTCMKTS:AKZOY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $33.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.35% from the stock’s previous close.

According to Zacks, “AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. Their portfolio includes brands such as Dulux, Sikkens, International, Interpon and Eka. “

Several other equities analysts also recently weighed in on AKZOY. Societe Generale downgraded Akzo Nobel from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. ValuEngine raised Akzo Nobel from a “hold” rating to a “buy” rating in a report on Sunday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Akzo Nobel (OTCMKTS:AKZOY) traded up $0.20 during mid-day trading on Thursday, hitting $29.64. The stock had a trading volume of 58,034 shares, compared to its average volume of 57,290. The stock has a market cap of $22,002.78, a P/E ratio of 22.80, a P/E/G ratio of 1.81 and a beta of 1.11. Akzo Nobel has a 52-week low of $20.61 and a 52-week high of $31.64. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.39.

Akzo Nobel (OTCMKTS:AKZOY) last released its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). The firm had revenue of $4.26 billion during the quarter. Akzo Nobel had a return on equity of 14.88% and a net margin of 6.13%. sell-side analysts expect that Akzo Nobel will post 1.63 earnings per share for the current year.

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About Akzo Nobel

Akzo Nobel N.V. is a paints and coatings company, and a producer of specialty chemicals. The Company’s segments include Decorative Paints, Performance Coatings, Paints and Coatings, and Specialty Chemicals. The Decorative Paints segment’s business operations include Decorative Paints Europe, Middle East and Africa; Decorative Paints Asia, and Decorative Paints Latin America.

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