AB Volvo (OTCMKTS:VLVLY) Reaches New 12-Month High – Here’s Why

AB Volvo (OTCMKTS:VLVLY) reached a new 52-week high on Thursday . The stock traded as high as $33.84 and last traded at $33.41, with a volume of 214406 shares changing hands. The stock had previously closed at $32.88.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup upgraded AB Volvo from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft downgraded shares of AB Volvo from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. 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. Finally, Zacks Research raised shares of AB Volvo from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

AB Volvo Trading Up 1.6%

The stock has a market cap of $67.94 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 5.65 and a beta of 1.13. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.85 and a current ratio of 1.12. The firm’s fifty day simple moving average is $30.10 and its 200-day simple moving average is $29.30.

AB Volvo (OTCMKTS:VLVLY) last posted its quarterly earnings data 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 firm had revenue of $11.75 billion for the quarter, compared to analyst estimates of $115.79 billion. Equities research analysts expect 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.