AB Volvo (OTCMKTS:VLVLY) Stock Bumped Down to “Hold” by Erste Group Bank

Erste Group Bank lowered shares of AB Volvo (OTCMKTS:VLVLY) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks reports.

Separately, Zacks Research cut shares of AB Volvo from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

AB Volvo Stock Down 2.1%

Shares of AB Volvo stock opened at $31.65 on Wednesday. The stock has a market capitalization of $64.35 billion, a P/E ratio of 16.83, a PEG ratio of 0.77 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average price of $33.92 and a two-hundred day moving average price of $34.52. AB Volvo has a 12-month low of $26.77 and a 12-month high of $39.62.

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.