AB Volvo (OTCMKTS:VLVLY) Hits New 1-Year High on Analyst Upgrade

AB Volvo (OTCMKTS:VLVLY) reached a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $33.84 and last traded at $33.41, with a volume of 214406 shares traded. The stock had previously closed at $32.88.

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

AB Volvo Stock Up 1.0%

The firm has a 50-day moving average price of $30.33 and a two-hundred day moving average price of $29.37. The company has a market capitalization of $68.38 billion, a P/E ratio of 16.57, a PEG ratio of 5.62 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 earnings results on Friday, October 17th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.13). The company had revenue of $11.75 billion for the quarter, compared to analyst estimates of $115.79 billion. AB Volvo had a net margin of 8.47% and a return on equity of 22.66%. Equities research analysts anticipate that AB Volvo will post 2.38 EPS for the current fiscal 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.