Akzo Nobel NV (OTCMKTS:AKZOY) Sees Significant Increase in Short Interest

Key Points

• Short interest more than doubled to 49,095 shares as of July 31, up 108% from mid-July. Despite the increase, short interest represented 0.0% of shares outstanding and equated to just 0.3 days to cover.
• Akzo Nobel reported quarterly EPS of $0.41, missing the $0.45 consensus estimate, while revenue of $2.95 billion was slightly below expectations. Analysts project full-year EPS of $1.47.
• The stock opened at $24.08 and was up 0.2%, with a market value of approximately $12.37 billion. Analyst sentiment remains cautious, with a consensus “Hold” rating from one Strong Buy, one Buy and six Hold ratings.

Akzo Nobel NV (OTCMKTS:AKZOY - Get Free Report) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 49,095 shares, an increase of 108.0% from the July 15th total of 23,600 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 141,789 shares, the days-to-cover ratio is presently 0.3 days.

Akzo Nobel Stock Up 0.2%

Shares of AKZOY opened at $24.08 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.49 and a debt-to-equity ratio of 1.09. Akzo Nobel has a 12 month low of $18.04 and a 12 month high of $25.99. The firm's 50 day moving average is $22.74 and its 200-day moving average is $21.69. The stock has a market capitalization of $12.37 billion, a PE ratio of 16.84, a P/E/G ratio of 1.94 and a beta of 1.17.

Akzo Nobel (OTCMKTS:AKZOY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share (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 during the quarter, compared to the consensus estimate of $2.96 billion. Equities research analysts forecast that Akzo Nobel will post 1.47 EPS for the current year.

Wall Street Analyst Weigh In

AKZOY has been the topic of several recent research reports. Citigroup assumed coverage on Akzo Nobel in a research note on Friday, June 5th. They issued a "buy" rating on the stock. Zacks Research upgraded shares of Akzo Nobel from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Akzo Nobel in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Akzo Nobel Company Profile

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.

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