AB Volvo (OTCMKTS:VLVLY) Sees Strong Trading Volume – Still a Buy?

AB Volvo (OTCMKTS:VLVLY) shares saw strong trading volume on Wednesday. Approximately 966,283 shares were traded during trading, an increase of 513% from the average daily volume of 157,683 shares. The stock last traded at $32.09 and had previously closed at $31.2060.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup downgraded shares of AB Volvo from a “strong-buy” rating to a “hold” rating in a research note on Monday. Zacks Research downgraded shares of AB Volvo from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, Erste Group Bank lowered shares of AB Volvo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

AB Volvo Trading Up 2.8%

The business has a 50 day simple moving average of $33.17 and a two-hundred day simple moving average of $34.73. 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 company has a market cap of $65.21 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.24.

AB Volvo (OTCMKTS:VLVLY) last released its earnings results on Friday, October 23rd. The company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. AB Volvo had a return on equity of 21.50% and a net margin of 8.12%. The firm had revenue of $12.04 billion during the quarter, compared to analyst estimates of $12.53 billion. On average, analysts forecast that AB Volvo will post 2.11 EPS for the current fiscal 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.