AB Volvo (OTCMKTS:VLVLY) Sees Large Volume Increase Following Analyst Upgrade

AB Volvo (OTCMKTS:VLVLY) saw unusually-strong trading volume on Wednesday after The Goldman Sachs Group upgraded the stock from a hold rating to a strong-buy rating. Approximately 108,747 shares traded hands during mid-day trading, an increase of 113% from the previous session’s volume of 50,968 shares.The stock last traded at $33.2650 and had previously closed at $32.88.

A number of other equities analysts have also recently issued reports on VLVLY. Sanford C. Bernstein upgraded shares of AB Volvo from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Zacks Research raised shares of AB Volvo from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Deutsche Bank Aktiengesellschaft downgraded AB Volvo from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Citigroup upgraded AB Volvo from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

AB Volvo Stock Down 0.3%

The firm has a market cap of $67.73 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 5.63 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of $30.21 and a 200-day moving average price of $29.32.

AB Volvo (OTCMKTS:VLVLY) last released its earnings results on Friday, October 17th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.13). AB Volvo had a return on equity of 22.66% and a net margin of 8.47%.The business had revenue of $11.75 billion for the quarter, compared to analysts’ expectations of $115.79 billion. As a group, sell-side analysts forecast that AB Volvo will post 2.38 EPS for the current year.

About AB Volvo

AB Volvo (Volvo Group) is a Swedish multinational manufacturing company headquartered in Gothenburg. The company designs, manufactures and sells a broad range of commercial vehicles and related systems, including heavy- and medium-duty trucks, buses, and construction equipment. In addition to vehicles and machinery, Volvo supplies marine and industrial power systems through its Volvo Penta division and offers parts, service, telematics and financing solutions to commercial customers worldwide.

Key product and business lines include Volvo Trucks and Mack-branded heavy trucks, a global bus and coach offering, Volvo Construction Equipment, and power systems for marine and industrial applications.