Akzo Nobel (OTCMKTS:AKZOY) Sees Strong Trading Volume – Time to Buy?

Akzo Nobel NV (OTCMKTS:AKZOY) shares saw unusually-high trading volume on Thursday . 268,811 shares changed hands during trading, an increase of 62% from the previous session’s volume of 166,384 shares.The stock last traded at $23.50 and had previously closed at $23.08.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AKZOY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Akzo Nobel in a report on Monday, June 29th. Zacks Research upgraded shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Citigroup began coverage on shares of Akzo Nobel in a research report on Friday, June 5th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Akzo Nobel Stock Up 0.1%

The stock has a 50-day moving average price of $23.05 and a 200-day moving average price of $21.70. The company has a market capitalization of $12.07 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.89 and a beta of 1.18. 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 released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Akzo Nobel had a return on equity of 12.77% and a net margin of 6.49%.The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.96 billion. On average, 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.