Akzo Nobel (OTCMKTS:AKZOY) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Akzo Nobel (OTCMKTS:AKZOY) from a buy rating to a hold rating in a research report report published on Wednesday, 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. “

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

Shares of OTCMKTS AKZOY traded down $0.13 during midday trading on Wednesday, reaching $33.00. The stock had a trading volume of 18,686 shares, compared to its average volume of 32,722. The stock has a 50-day moving average of $33.22 and a 200-day moving average of $31.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.30 and a current ratio of 1.64. The company has a market capitalization of $20.76 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 1.24 and a beta of 0.77. Akzo Nobel has a 12-month low of $26.21 and a 12-month high of $34.36.

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