AB Volvo (OTCMKTS:VLVLY) Shares Gap Up - Here's Why

Key Points

• AB Volvo's stock price experienced a gap up from $28.20 to a current trading price of $29.19 on Friday, reflecting increased market activity with 7,026 shares traded.
• The Goldman Sachs Group downgraded AB Volvo shares from a "buy" to a "neutral" rating, contributing to the stock's current consensus rating of "Hold" reported by analysts.
• AB Volvo reported earnings of $0.69 per share for the last quarter, surpassing analyst expectations of $0.53, and had revenue amounting to $12.59 billion.

AB Volvo (OTCMKTS:VLVLY - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $28.20, but opened at $29.12. AB Volvo shares last traded at $29.19, with a volume of 7,026 shares traded.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered shares of AB Volvo from a "buy" rating to a "neutral" rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

AB Volvo Price Performance

The business's 50 day moving average price is $29.61 and its 200 day moving average price is $28.41. The stock has a market capitalization of $59.44 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 4.04 and a beta of 1.16. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.11 and a quick ratio of 0.86.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.16. AB Volvo had a net margin of 8.90% and a return on equity of 23.77%. The company had revenue of $12.59 billion during the quarter, compared to analyst estimates of $122.35 billion. Sell-side analysts forecast that AB Volvo will post 2.38 EPS for the current year.

AB Volvo Company Profile

AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania. The company provides heavy-duty trucks for long-haulage and construction work and light-duty trucks for distribution purposes under the Volvo, Renault Trucks, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and chassis under the Prevost and Volvo Bus brands.

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