Akzo Nobel (OTCMKTS:AKZOY) Shares Cross Above Fifty Day Moving Average – Here’s Why

Akzo Nobel NV (OTCMKTS:AKZOY)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.65 and traded as high as $24.65. Akzo Nobel shares last traded at $24.50, with a volume of 30,677 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on AKZOY shares. Citigroup started coverage on shares of Akzo Nobel in a research report on Friday, June 5th. They set a “buy” rating on the stock. Zacks Research upgraded Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Akzo Nobel in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Akzo Nobel currently has an average rating of “Hold”.

Akzo Nobel Trading Up 1.1%

The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.97 and a beta of 1.17. The company has a quick ratio of 1.49, a current ratio of 1.88 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average of $22.65 and a 200-day moving average of $21.65.

Akzo Nobel (OTCMKTS:AKZOY) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.96 billion. Akzo Nobel had a return on equity of 12.77% and a net margin of 6.49%. As a group, research analysts forecast that Akzo Nobel NV will post 1.47 earnings per share for the current 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.