Akzo Nobel NV (OTCMKTS:AKZOY) Short Interest Update

Key Points

• Short interest surged 617.2% in August to 179,385 shares, up from 25,013 shares on August 15. Despite the increase, short interest represents 0.0% of shares outstanding and equals 0.6 days of average trading volume.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” from eight analysts: one Strong Buy, one Buy and six Holds.
• Akzo Nobel reported quarterly EPS of $0.41, missing the $0.45 consensus estimate, while revenue of $2.95 billion was slightly below expectations of $2.96 billion. The stock opened at $22.43, down 1.6%, and trades at a P/E ratio of 15.69.

Akzo Nobel NV (OTCMKTS:AKZOY - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 179,385 shares, an increase of 617.2% from the August 15th total of 25,013 shares. Based on an average trading volume of 313,837 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Zacks Research raised Akzo Nobel from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Akzo Nobel in a research report on Monday, June 29th. Finally, Citigroup started coverage on shares of Akzo Nobel in a research note on Friday, June 5th. They set a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold".

Akzo Nobel Trading Down 1.6%

AKZOY opened at $22.43 on Friday. The firm has a market cap of $11.52 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.84 and a beta of 1.18. Akzo Nobel has a 12 month low of $18.04 and a 12 month high of $25.99. The company has a current ratio of 1.88, a quick ratio of 1.49 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average of $23.08 and a 200 day moving average of $21.66.

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

Akzo Nobel Company Profile

Akzo Nobel N.V. is a Netherlands-based multinational company that develops, manufactures and markets paints and coatings. Its products are used in residential, commercial and industrial applications, including architectural paints, protective coatings, marine coatings, powder coatings, automotive refinishing products and specialty coatings.

The company's brand portfolio includes Dulux, International, Sikkens, Interpon and other regional and professional brands. Its coatings are applied to buildings, infrastructure, ships, vehicles, industrial equipment, consumer goods and other surfaces to provide decoration, protection and improved durability.

Akzo Nobel traces its history to the 17th and 18th centuries and took its present form following the 1994 merger of Akzo and Nobel Industries.

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