AB Volvo (OTCMKTS:VLVLY) Sees Unusually-High Trading Volume Following Analyst Upgrade

AB Volvo (OTCMKTS:VLVLY) shares 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 changed 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.

Several other analysts have also recently commented on VLVLY. Zacks Research upgraded AB Volvo from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. Sanford C. Bernstein raised shares of AB Volvo from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Deutsche Bank Aktiengesellschaft cut shares of AB Volvo from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Citigroup upgraded shares of AB Volvo from a “hold” rating to a “strong-buy” rating in a research 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 company’s stock. According to MarketBeat.com, AB Volvo has a consensus rating of “Moderate Buy”.

AB Volvo Price Performance

The stock has a 50-day simple moving average of $30.21 and a 200 day simple moving average of $29.32. The company has a market cap of $67.73 billion, a PE ratio of 16.41, a P/E/G 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.

AB Volvo (OTCMKTS:VLVLY) last released its quarterly earnings results on Friday, October 17th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The business had revenue of $11.75 billion for the quarter, compared to analysts’ expectations of $115.79 billion. AB Volvo had a return on equity of 22.66% and a net margin of 8.47%. Equities analysts expect 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.