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

Akzo Nobel NV (OTCMKTS:AKZOY) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $21.82 and traded as high as $22.13. Akzo Nobel shares last traded at $21.85, with a volume of 84,043 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AKZOY. 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 restated a “hold” rating on shares of Akzo Nobel in a research report on Monday, June 29th. The Goldman Sachs Group cut shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Citigroup began coverage on Akzo Nobel in a research note on Friday, June 5th. They set a “buy” rating on the stock. Finally, Barclays cut Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. One investment 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 MarketBeat.com, Akzo Nobel currently has a consensus rating of “Hold”.

Akzo Nobel Stock Up 0.2%

The firm’s fifty day simple moving average is $21.82 and its 200-day simple moving average is $21.67. The company has a market cap of $11.22 billion, a PE ratio of 15.61, a P/E/G ratio of 2.17 and a beta of 1.18. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 0.94.

Akzo Nobel (OTCMKTS:AKZOY) last issued its quarterly earnings data on Wednesday, April 22nd. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Akzo Nobel had a net margin of 6.44% and a return on equity of 13.42%. As a group, equities research analysts expect that Akzo Nobel NV will post 1.46 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.