AB Volvo (OTCMKTS:VLVLY) Sets New 1-Year High – Here’s Why

AB Volvo (OTCMKTS:VLVLY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $34.05 and last traded at $33.9340, with a volume of 3670 shares traded. The stock had previously closed at $33.38.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of AB Volvo from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Sanford C. Bernstein upgraded AB Volvo from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft cut AB Volvo from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Citigroup raised AB Volvo from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Zacks Research raised AB Volvo from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, AB Volvo has a consensus rating of “Hold”.

AB Volvo Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $69.30 billion, a PE ratio of 16.79, a PEG ratio of 5.63 and a beta of 1.13. The firm’s fifty day moving average price is $30.72 and its 200 day moving average price is $29.51.

AB Volvo (OTCMKTS:VLVLY) last announced its quarterly earnings data on Friday, October 17th. The company reported $0.39 earnings per share (EPS) 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 firm had revenue of $11.75 billion for the quarter, compared to analysts’ expectations of $115.79 billion. On average, research analysts anticipate that AB Volvo will post 2.38 earnings per share for the current year.

AB Volvo Company Profile

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.