Akzo Nobel NV (OTCMKTS:AKZOY) Short Interest Down 49.1% in August

Key Points

• Short interest in Akzo Nobel fell 49.1% to 25,013 shares as of August 14, representing 0.0% of shares outstanding and just 0.4 days to cover.
• Analyst sentiment is broadly neutral: Citigroup initiated coverage with a “Buy” rating, while Zacks upgraded the stock to “Hold” and Deutsche Bank reaffirmed “Hold.” The consensus rating is “Hold.”
• Akzo Nobel reported quarterly EPS of $0.41, below the $0.45 consensus estimate, while revenue of $2.95 billion was slightly below expectations. Shares opened at $24.13, near their 52-week high of $25.99.

Akzo Nobel NV (OTCMKTS:AKZOY - Get Free Report) was the target of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 25,013 shares, a decrease of 49.1% from the July 30th total of 49,095 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 67,019 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AKZOY. Zacks Research raised shares of Akzo Nobel from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Akzo Nobel in a research report on Monday, June 29th. Finally, Citigroup began coverage on shares of Akzo Nobel in a research note on Friday, June 5th. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Akzo Nobel currently has a consensus rating of "Hold".

Akzo Nobel Price Performance

Shares of OTCMKTS:AKZOY opened at $24.13 on Friday. Akzo Nobel has a 1-year low of $18.04 and a 1-year high of $25.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.88 and a quick ratio of 1.49. The business has a fifty day moving average price of $23.00 and a 200-day moving average price of $21.71. The company has a market capitalization of $12.39 billion, a PE ratio of 16.87, a PEG ratio of 1.94 and a beta of 1.17.

Akzo Nobel (OTCMKTS:AKZOY - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.96 billion. Akzo Nobel had a net margin of 6.49% and a return on equity of 12.77%. As a group, equities analysts expect that Akzo Nobel will post 1.47 EPS for the current fiscal year.

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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