Akzo Nobel (OTCMKTS:AKZOY) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

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 $20.97 and traded as high as $22.8480. Akzo Nobel shares last traded at $22.70, with a volume of 64,350 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Akzo Nobel from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Deutsche Bank Aktiengesellschaft lowered shares of Akzo Nobel from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Barclays downgraded shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. Zacks Research raised shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group downgraded Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 1st. One research 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. According to data from MarketBeat, Akzo Nobel presently has a consensus rating of “Hold”.

Akzo Nobel Stock Up 1.6%

The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.35. The business has a fifty day moving average price of $20.97 and a two-hundred day moving average price of $21.60.

Akzo Nobel (OTCMKTS:AKZOY) last released its earnings results on Wednesday, April 22nd. The basic materials company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. Akzo Nobel had a return on equity of 13.42% and a net margin of 6.44%. On average, equities analysts expect that Akzo Nobel NV will post 1.45 earnings per share for the current 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.