Akzo Nobel (OTCMKTS:AKZOY) Stock Passes Above 50 Day Moving Average – Here’s Why

Shares of Akzo Nobel NV (OTCMKTS:AKZOY) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $22.97 and traded as high as $23.9050. Akzo Nobel shares last traded at $23.87, with a volume of 121,768 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AKZOY shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Akzo Nobel in a research report on Monday, June 29th. Zacks Research upgraded shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Citigroup initiated coverage on shares of Akzo Nobel in a report on Friday, June 5th. They set a “buy” rating for the company. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Akzo Nobel Price Performance

The stock has a fifty day moving average of $23.00 and a 200-day moving average of $21.71. 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 $12.39 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 1.92 and a beta of 1.17.

Akzo Nobel (OTCMKTS:AKZOY) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Akzo Nobel had a net margin of 6.49% and a return on equity of 12.77%. On average, equities research analysts predict that Akzo Nobel NV will post 1.47 EPS for the current fiscal 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.