Zacks Investment Research Lowers Akzo Nobel (OTCMKTS:AKZOY) to Sell

Akzo Nobel (OTCMKTS:AKZOY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, reports.

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 have also weighed in on the stock. ABN Amro lowered shares of Akzo Nobel from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Akzo Nobel in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Akzo Nobel currently has an average rating of “Buy” and a consensus price target of $32.00.

OTCMKTS:AKZOY opened at $30.40 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. The company has a market cap of $20.79 billion, a PE ratio of 37.07, a PEG ratio of 8.21 and a beta of 0.66. Akzo Nobel has a 1-year low of $25.61 and a 1-year high of $33.00.

Akzo Nobel (OTCMKTS:AKZOY) last posted its earnings results on Wednesday, April 24th. The basic materials company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $2.48 billion for the quarter. Akzo Nobel had a net margin of 71.19% and a return on equity of 5.10%. Analysts expect that Akzo Nobel will post 1.04 earnings per share for the current fiscal year.

About Akzo Nobel

Akzo Nobel N.V. operates as a paints and coatings company worldwide. The company offers decorative paints, including paints, lacquers, and varnishes; a range of mixing machines and color concepts for the building and renovation industry; and specialty coatings for metal, wood, and other building materials primarily under the Dulux, Coral, Levis, and Flexa brands.

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