Short Interest in Akzo Nobel (OTCMKTS:AKZOY) Decreases By 51.6%

Akzo Nobel (OTCMKTS:AKZOYGet Rating) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 138,200 shares, a decline of 51.6% from the August 15th total of 285,800 shares. Based on an average daily volume of 349,400 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Ratings Changes

A number of equities analysts have commented on AKZOY shares. HSBC downgraded shares of Akzo Nobel from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Berenberg Bank reduced their price target on shares of Akzo Nobel from €112.00 ($114.29) to €110.00 ($112.24) and set a “buy” rating for the company in a report on Friday, May 20th. Oddo Bhf downgraded shares of Akzo Nobel from an “outperform” rating to a “neutral” rating and set a €74.00 ($75.51) price target for the company. in a report on Friday, June 24th. Redburn Partners raised shares of Akzo Nobel from a “neutral” rating to a “buy” rating in a report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Akzo Nobel from €88.00 ($89.80) to €80.00 ($81.63) in a report on Friday, July 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Akzo Nobel currently has a consensus rating of “Moderate Buy” and an average target price of $91.14.

Akzo Nobel Trading Down 2.6 %

Akzo Nobel stock opened at $20.09 on Thursday. Akzo Nobel has a 12-month low of $19.89 and a 12-month high of $39.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 0.96. The stock has a market capitalization of $10.95 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The firm has a 50 day simple moving average of $22.00 and a 200-day simple moving average of $25.66.

Akzo Nobel (OTCMKTS:AKZOYGet Rating) last released its earnings results on Wednesday, July 20th. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Akzo Nobel had a return on equity of 10.40% and a net margin of 6.05%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.91 billion. As a group, equities research analysts expect that Akzo Nobel will post 1.34 EPS for the current fiscal year.

About Akzo Nobel

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Akzo Nobel N.V. engages in the production and sale of paints and coatings worldwide. It offers decorative paints, including paints, lacquers, and varnishes; and a range of mixing machines and color concepts for the building and renovation industry, as well as specialty coatings for metal, wood, and other building materials.

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