AB Volvo (OTCMKTS:VLVLY) Sees Strong Trading Volume – Here’s Why

AB Volvo (OTCMKTS:VLVLY) shares saw an uptick in trading volume on Tuesday. 590,322 shares traded hands during mid-day trading, an increase of 237% from the average daily volume of 175,002 shares. The stock last traded at $32.37 and had previously closed at $32.4620.

Analysts Set New Price Targets

VLVLY has been the subject of a number of recent research reports. 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 shares of AB Volvo from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, Citigroup downgraded shares of AB Volvo from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold”.

AB Volvo Stock Performance

The firm’s 50-day moving average is $32.66 and its 200 day moving average is $34.67. The stock has a market cap of $65.72 billion, a PE ratio of 15.84, a P/E/G ratio of 0.84 and a beta of 1.24. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.82 and a current ratio of 1.10.

AB Volvo (OTCMKTS:VLVLY) last issued its quarterly earnings data on Friday, October 23rd. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $12.04 billion for the quarter, compared to the consensus estimate of $12.53 billion. AB Volvo had a net margin of 8.12% and a return on equity of 21.50%. As a group, research analysts anticipate that AB Volvo will post 2.11 EPS for the current year.

About AB Volvo

AB Volvo, commonly known as the Volvo Group, is a Swedish manufacturer of commercial vehicles and industrial equipment. Founded in Gothenburg in 1927, the company operates separately from Volvo Cars. Its products include trucks, buses, construction equipment, and engines for marine and industrial applications. The group also provides aftermarket services, such as maintenance, repairs, and parts, as well as financing and other customer services. AB Volvo serves customers across markets worldwide through a network of manufacturing, sales, and service operations.