Akzo Nobel (OTCMKTS:AKZOY) Shares Cross Above 50-Day Moving Average – What’s Next?

Shares of Akzo Nobel NV (OTCMKTS:AKZOY) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $22.48 and traded as high as $23.72. Akzo Nobel shares last traded at $23.5550, with a volume of 95,610 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on AKZOY. Zacks Research raised shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Citigroup assumed coverage on shares of Akzo Nobel in a research report on Friday, June 5th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Akzo Nobel in a report on Monday, June 29th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Akzo Nobel Stock Performance

The stock has a market capitalization of $12.10 billion, a PE ratio of 16.47, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.49 and a current ratio of 1.88. The firm’s 50 day moving average is $22.48 and its two-hundred day moving average is $21.60.

Akzo Nobel (OTCMKTS:AKZOY) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 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 business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.96 billion. As a group, research analysts predict 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.