AB Volvo (OTCMKTS:VLVLY) Sees Large Volume Increase – Here’s What Happened

AB Volvo (OTCMKTS:VLVLY) saw unusually-high trading volume on Thursday. 584,471 shares changed hands during mid-day trading, an increase of 288% from the average daily volume of 150,520 shares. The stock last traded at $31.4210 and had previously closed at $31.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Erste Group Bank downgraded shares of AB Volvo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. Zacks Research cut AB Volvo from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, AB Volvo currently has an average rating of “Hold”.

AB Volvo Trading Up 0.2%

The company has a current ratio of 1.10, a quick ratio of 0.82 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $33.54 and a 200-day moving average price of $34.78. The firm has a market capitalization of $63.88 billion, a PE ratio of 15.40, a P/E/G ratio of 0.73 and a beta of 1.22.

AB Volvo (OTCMKTS:VLVLY) last announced its quarterly earnings data on Friday, October 23rd. The company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $12.04 billion for the quarter, compared to analyst estimates of $12.53 billion. AB Volvo had a return on equity of 21.50% and a net margin of 8.12%. Analysts expect that AB Volvo will post 2.12 earnings per share for the current year.

About AB Volvo

AB Volvo is a Sweden-based manufacturer of commercial vehicles and transportation-related products. Founded in 1927 and headquartered in Gothenburg, the company develops and sells trucks, buses, construction equipment, and marine and industrial engines. AB Volvo is separate from Volvo Cars, which became an independent company in 1999.

The company’s commercial vehicle operations include heavy-duty, medium-duty, and light-duty trucks sold under brands such as Volvo Trucks, Mack Trucks, Renault Trucks, and UD Trucks.