Akzo Nobel (OTCMKTS:AKZOY) Sees Strong Trading Volume – Still a Buy?

Akzo Nobel NV (OTCMKTS:AKZOY) shares saw an uptick in trading volume on Friday . Approximately 404,278 shares traded hands during mid-day trading, an increase of 149% from the previous session’s volume of 162,102 shares.The stock last traded at $24.03 and had previously closed at $23.87.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AKZOY. Citigroup began coverage on shares of Akzo Nobel in a report on Friday, June 5th. They set a “buy” rating on the stock. 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, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Akzo Nobel in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Akzo Nobel Stock Performance

The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.91 and a beta of 1.17. The stock has a 50-day moving average price of $22.97 and a 200-day moving average price of $21.69. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.88 and a quick ratio of 1.49.

Akzo Nobel (OTCMKTS:AKZOY) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Akzo Nobel had a return on equity of 12.77% and a net margin of 6.49%.The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.96 billion. As a group, analysts forecast that Akzo Nobel NV will post 1.47 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.