AB Volvo (OTCMKTS:VLVLY) Reaches New 1-Year High – Here’s Why

AB Volvo (OTCMKTS:VLVLY) shares hit a new 52-week high on Wednesday . The company traded as high as $39.40 and last traded at $39.03, with a volume of 7012 shares trading hands. The stock had previously closed at $38.6150.

Analysts Set New Price Targets

Several brokerages have issued reports on VLVLY. Morgan Stanley lowered AB Volvo from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft downgraded AB Volvo from a “buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Zacks Research raised AB Volvo from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. Citigroup raised AB Volvo from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Finally, UBS Group lowered shares of AB Volvo from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

AB Volvo Trading Up 1.6%

The company has a 50 day simple moving average of $33.64 and a 200 day simple moving average of $30.58. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $79.75 billion, a PE ratio of 19.23, a P/E/G ratio of 9.03 and a beta of 1.15.

AB Volvo (OTCMKTS:VLVLY) last released its earnings results on Wednesday, January 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. AB Volvo had a return on equity of 23.01% and a net margin of 8.47%.The business had revenue of $14.01 billion for the quarter, compared to analyst estimates of $13.42 billion. Analysts predict that AB Volvo will post 2.38 earnings per share for the current fiscal year.

About AB Volvo

AB Volvo (Volvo Group) is a Swedish multinational manufacturing company headquartered in Gothenburg. The company designs, manufactures and sells a broad range of commercial vehicles and related systems, including heavy- and medium-duty trucks, buses, and construction equipment. In addition to vehicles and machinery, Volvo supplies marine and industrial power systems through its Volvo Penta division and offers parts, service, telematics and financing solutions to commercial customers worldwide.

Key product and business lines include Volvo Trucks and Mack-branded heavy trucks, a global bus and coach offering, Volvo Construction Equipment, and power systems for marine and industrial applications.