Akzo Nobel (OTCMKTS:AKZOY) Rating Lowered to Sell at Zacks Investment Research

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Akzo Nobel (OTCMKTS:AKZOY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

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. “

Other equities research analysts also recently issued research reports about the stock. Macquarie reaffirmed a “neutral” rating on shares of Glencore in a research note on Tuesday. ABN Amro downgraded shares of Akzo Nobel from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Citigroup set a $12.00 price target on shares of Avaya and gave the company a “hold” rating in a research note on Monday. Finally, Goldman Sachs Group set a €148.00 ($172.09) price target on shares of Airbus and gave the company a “buy” rating in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Akzo Nobel has an average rating of “Hold” and a consensus price target of $32.00.

Shares of OTCMKTS:AKZOY traded up $0.01 during midday trading on Tuesday, reaching $30.99. 15,470 shares of the company were exchanged, compared to its average volume of 60,957. The company has a current ratio of 2.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $30.10. Akzo Nobel has a one year low of $25.61 and a one year high of $33.00. The firm has a market capitalization of $21.20 billion, a PE ratio of 37.79, a PEG ratio of 8.62 and a beta of 0.72.

Akzo Nobel (OTCMKTS:AKZOY) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Akzo Nobel had a return on equity of 5.10% and a net margin of 71.19%. The company had revenue of $2.48 billion for the quarter. As a group, sell-side analysts forecast that Akzo Nobel will post 1.04 earnings per share for the current fiscal year.

About Akzo Nobel

Akzo Nobel N.V. operates as a paints and coatings company worldwide. The company offers decorative paints, including paints, lacquers, and varnishes; a range of mixing machines and color concepts for the building and renovation industry; and specialty coatings for metal, wood, and other building materials primarily under the Dulux, Coral, Levis, and Flexa brands.

Read More: How To Calculate Debt-to-Equity Ratio

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Analyst Recommendations for Akzo Nobel (OTCMKTS:AKZOY)

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