Akzo Nobel (OTCMKTS:AKZOY) Coverage Initiated by Analysts at Citigroup

Investment analysts at Citigroup assumed coverage on shares of Akzo Nobel (OTCMKTS:AKZOY) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating on the basic materials company’s stock.

Other research analysts have also recently issued reports about the stock. Barclays cut shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Zacks Research lowered Akzo Nobel from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Wall Street Zen cut Akzo Nobel from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Deutsche Bank Aktiengesellschaft lowered Akzo Nobel from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, The Goldman Sachs Group downgraded Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Akzo Nobel Stock Performance

Shares of AKZOY stock traded up $0.74 during trading on Friday, reaching $21.99. 4,688 shares of the company’s stock were exchanged, compared to its average volume of 205,277. The firm’s fifty day moving average price is $20.30 and its 200-day moving average price is $21.52. Akzo Nobel has a twelve month low of $18.04 and a twelve month high of $25.99. The stock has a market capitalization of $11.30 billion, a PE ratio of 15.71, a PEG ratio of 1.87 and a beta of 1.16. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 0.76.

Akzo Nobel (OTCMKTS:AKZOY) last released its quarterly earnings data on Wednesday, April 22nd. The basic materials company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. Akzo Nobel had a net margin of 6.44% and a return on equity of 13.96%. As a group, sell-side analysts anticipate that Akzo Nobel will post 1.46 EPS 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.