Akzo Nobel (OTCMKTS:AKZOY) Sees Unusually-High Trading Volume – Time to Buy?

Akzo Nobel NV (OTCMKTS:AKZOY) saw strong trading volume on Thursday . Approximately 374,105 shares changed hands during mid-day trading, an increase of 115% from the previous session’s volume of 174,403 shares.The stock last traded at $21.60 and had previously closed at $22.04.

Analyst Upgrades and Downgrades

AKZOY has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Akzo Nobel in a research report on Friday, June 5th. They set a “buy” rating for the company. Zacks Research raised Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Akzo Nobel in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Akzo Nobel Stock Performance

The company has a market capitalization of $10.97 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.74 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 business’s fifty day simple moving average is $23.04 and its 200-day simple moving average is $21.61.

Akzo Nobel (OTCMKTS:AKZOY) last released its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.77%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.96 billion. As a group, equities analysts anticipate that Akzo Nobel NV will post 1.47 earnings per share for the current fiscal year.

About Akzo Nobel

Akzo Nobel N.V. is a Netherlands-based multinational company that develops, manufactures and markets paints and coatings. Its products are used in residential, commercial and industrial applications, including architectural paints, protective coatings, marine coatings, powder coatings, automotive refinishing products and specialty coatings.

The company’s brand portfolio includes Dulux, International, Sikkens, Interpon and other regional and professional brands. Its coatings are applied to buildings, infrastructure, ships, vehicles, industrial equipment, consumer goods and other surfaces to provide decoration, protection and improved durability.

Akzo Nobel traces its history to the 17th and 18th centuries and took its present form following the 1994 merger of Akzo and Nobel Industries.