Volvo Ab (VLVLY) Rating Increased to Strong-Buy at Zacks Investment Research
Volvo Ab (NASDAQ:VLVLY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $20.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.60% from the stock’s previous close.
According to Zacks, “AB Volvo is the parent company of the Volvo Group. The Volvo Group is a manufacturer of trucks, buses, construction equipment, diesel engines, and marine and industrial engines. The Volvo Group also provides solutions for financing and service. Its segments include Trucks, Construction Equipment, Buses, Volvo Penta, Group functions & Other, and Financial Services. The Company’s brand portfolio consists of Volvo, Volvo Penta, UD, Terex Trucks, Renault Trucks, Prevost, Nova Bus and Mack. In addition to vehicles and machines, its offering includes a range of services, such as insurance, rental services, spare parts, preventive maintenance, service agreements, assistance services and information technology (IT) services. Its product range is divided into Vehicles and Services. The sale of new vehicles, machinery and engines comprise Vehicles, as well as the sale of used vehicles and machines, trailers, superstructures and special vehicles. Its Services include the sale of spare parts. “
Shares of Volvo Ab (VLVLY) opened at 17.301 on Friday. Volvo Ab has a 52 week low of $10.09 and a 52 week high of $18.07. The firm has a market cap of $35.16 billion and a PE ratio of 20.971.
Volvo Ab (NASDAQ:VLVLY) last posted its earnings results on Wednesday, July 19th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $10.03 billion for the quarter, compared to analyst estimates of $9.49 billion.
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