Akzo Nobel (OTCMKTS:AKZOY) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Akzo Nobel NV (OTCMKTS:AKZOY)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $20.97 and traded as high as $22.8480. Akzo Nobel shares last traded at $22.70, with a volume of 64,350 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AKZOY. Wall Street Zen cut shares of Akzo Nobel from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Barclays cut Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. The Goldman Sachs Group downgraded Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Zacks Research raised Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded Akzo Nobel from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Akzo Nobel presently has an average rating of “Hold”.

Akzo Nobel Stock Performance

The firm has a market capitalization of $11.66 billion, a P/E ratio of 16.21, a PEG ratio of 2.00 and a beta of 1.16. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $21.02 and a 200-day moving average price of $21.60.

Akzo Nobel (OTCMKTS:AKZOY) last issued its earnings results on Wednesday, April 22nd. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Akzo Nobel had a return on equity of 13.42% and a net margin of 6.44%. Analysts anticipate that Akzo Nobel NV will post 1.45 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.