Akzo Nobel (OTCMKTS:AKZOY) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Akzo Nobel (OTCMKTS:AKZOY) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com 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. “

A number of other research analysts also recently issued reports on AKZOY. Morgan Stanley raised shares of Akzo Nobel from an equal weight rating to an overweight rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded shares of Akzo Nobel from a neutral rating to an overweight rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $38.00.

Shares of Akzo Nobel stock traded down $0.13 on Wednesday, reaching $33.00. The stock had a trading volume of 18,686 shares, compared to its average volume of 32,722. The company has a 50 day moving average price of $33.22 and a 200 day moving average price of $31.35. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.29. Akzo Nobel has a 1 year low of $26.21 and a 1 year high of $34.36. The stock has a market capitalization of $20.76 billion, a P/E ratio of 40.24, a P/E/G ratio of 1.24 and a beta of 0.77.

Akzo Nobel (OTCMKTS:AKZOY) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Akzo Nobel had a net margin of 70.34% and a return on equity of 6.18%. The firm had revenue of $2.67 billion for the quarter. On average, analysts forecast that Akzo Nobel will post 1.2 earnings per share for the current fiscal year.

Akzo Nobel Company Profile

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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