Akzo Nobel (OTCMKTS:AKZOY) Sees Large Volume Increase – Here’s What Happened

Akzo Nobel NV (OTCMKTS:AKZOY) shares saw strong trading volume on Thursday . Approximately 374,105 shares changed hands during mid-day trading, an increase of 115% from the previous session’s volume of 174,403 shares.The stock last traded at $21.60 and had previously closed at $22.04.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research raised Akzo Nobel from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Citigroup started coverage on Akzo Nobel in a research report on Friday, June 5th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Akzo Nobel in a research note on Monday, June 29th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Akzo Nobel Trading Down 1.9%

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 stock has a market capitalization of $11.11 billion, a PE ratio of 15.12, a PEG ratio of 1.78 and a beta of 1.18. The business’s 50-day moving average is $23.05 and its two-hundred day moving average is $21.62.

Akzo Nobel (OTCMKTS:AKZOY) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Akzo Nobel had a return on equity of 12.77% and a net margin of 6.49%.The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.96 billion. On average, analysts anticipate that Akzo Nobel NV will post 1.47 earnings per share for the current fiscal year.

About Akzo Nobel

Akzo Nobel N.V. is a Netherlands-based multinational company that develops, manufactures and markets paints and coatings. Its products are used in residential, commercial and industrial applications, including architectural paints, protective coatings, marine coatings, powder coatings, automotive refinishing products and specialty coatings.

The company’s brand portfolio includes Dulux, International, Sikkens, Interpon and other regional and professional brands. Its coatings are applied to buildings, infrastructure, ships, vehicles, industrial equipment, consumer goods and other surfaces to provide decoration, protection and improved durability.

Akzo Nobel traces its history to the 17th and 18th centuries and took its present form following the 1994 merger of Akzo and Nobel Industries.