Akzo Nobel NV (AKZOY) Cut to Hold at Zacks Investment Research

Akzo Nobel NV (OTCMKTS:AKZOY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, May 12th.

According to Zacks, “AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. Their portfolio includes brands such as Dulux, Sikkens, International, Interpon and Eka. “

AKZOY has been the subject of a number of other reports. Bank of America Corporation upgraded shares of Akzo Nobel NV from an “underperform” rating to a “neutral” rating in a research report on Tuesday, March 14th. Morgan Stanley reiterated an “equal weight” rating on shares of Akzo Nobel NV in a research report on Wednesday, March 29th. Citigroup Inc. cut shares of Akzo Nobel NV from a “buy” rating to a “neutral” rating in a research report on Thursday, February 16th. Finally, Evercore ISI started coverage on shares of Akzo Nobel NV in a research note on Monday, February 13th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Analyst Recommendations for Akzo Nobel NV (OTCMKTS:AKZOY)

Shares of Akzo Nobel NV (OTCMKTS AKZOY) traded up 0.87% on Friday, reaching $28.93. 27,849 shares of the company traded hands. Akzo Nobel NV has a 1-year low of $19.32 and a 1-year high of $30.24. The stock has a 50-day moving average price of $28.30 and a 200 day moving average price of $24.97. The firm has a market capitalization of $21.83 billion, a P/E ratio of 20.32 and a beta of 1.12.

Akzo Nobel NV (OTCMKTS:AKZOY) last released its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.06. Akzo Nobel NV had a net margin of 6.75% and a return on equity of 14.98%. The firm had revenue of $3.90 billion during the quarter. Analysts anticipate that Akzo Nobel NV will post $1.42 EPS for the current fiscal year.

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Akzo Nobel NV Company Profile

Akzo Nobel N.V. is a paints and coatings company, and a producer of specialty chemicals. The Company’s segments include Decorative Paints, Performance Coatings, Specialty Chemicals, and Corporate and other. The Decorative Paints segment’s business operations include Decorative Paints Europe, Middle East and Africa; Decorative Paints Asia, and Decorative Paints Latin America.

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