AB Volvo (OTCMKTS:VLVLY) Sets New 52-Week High – Here’s What Happened

AB Volvo (OTCMKTS:VLVLY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $37.69 and last traded at $37.69, with a volume of 789 shares. The stock had previously closed at $36.39.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VLVLY. Kepler Capital Markets restated a “hold” rating on shares of AB Volvo in a report on Friday, January 16th. The Goldman Sachs Group raised shares of AB Volvo from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 7th. Zacks Research upgraded shares of AB Volvo from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft downgraded AB Volvo from a “buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Sanford C. Bernstein raised AB Volvo from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Two research 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, the company currently has a consensus rating of “Hold”.

AB Volvo Trading Up 2.7%

The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.79. The firm’s 50-day moving average price is $32.60 and its 200 day moving average price is $30.17. The company has a market capitalization of $77.11 billion, a P/E ratio of 18.59, a P/E/G ratio of 6.14 and a beta of 1.15.

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

AB Volvo Company Profile

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.