AB Volvo (OTCMKTS:VLVLY) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded AB Volvo from “hold” to “strong sell,” although other analysts have issued strong-buy upgrades and MarketBeat’s consensus rating remains “Moderate Buy.”
• AB Volvo shares opened at $31.37, down from their 50-day and 200-day moving averages, with a 12-month trading range of $26.11 to $39.62 and a market capitalization of approximately $63.79 billion.
• The company’s latest quarterly results met expectations with earnings of $0.54 per share and exceeded revenue estimates, reporting $13.09 billion in sales versus the $12.92 billion consensus forecast.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday, Zacks reports.

VLVLY has been the topic of a number of other research reports. Pareto Securities upgraded AB Volvo to a "strong-buy" rating in a research report on Thursday, June 11th. Erste Group Bank raised AB Volvo to a "strong-buy" rating in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, AB Volvo has a consensus rating of "Moderate Buy".

AB Volvo Trading Up 0.5%

Shares of AB Volvo stock opened at $31.37 on Monday. The company has a fifty day simple moving average of $35.32 and a 200-day simple moving average of $34.54. AB Volvo has a 12-month low of $26.11 and a 12-month high of $39.62. The company has a current ratio of 1.10, a quick ratio of 0.82 and a debt-to-equity ratio of 0.85. The stock has a market cap of $63.79 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 0.73 and a beta of 1.22.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AB Volvo had a net margin of 7.60% and a return on equity of 20.16%. The firm had revenue of $13.09 billion for the quarter, compared to analyst estimates of $12.92 billion. On average, equities analysts forecast that AB Volvo will post 2.15 EPS for the current fiscal year.

AB Volvo Company Profile

AB Volvo, commonly known as the Volvo Group, is a Sweden-based manufacturer of commercial vehicles and related equipment. The company develops and sells heavy-duty trucks under brands including Volvo Trucks, Mack, Renault Trucks and UD Trucks, serving industries such as freight transportation, construction and distribution.

In addition to trucks, Volvo Group provides buses and coaches, construction equipment, and marine and industrial engines. Its offerings are supported by aftermarket services, spare parts, maintenance, repair and fleet-management solutions designed to help customers operate and maintain their vehicles and equipment.

Founded in 1927 and headquartered in Gothenburg, Sweden, AB Volvo serves customers through operations and sales networks across Europe, North America, South America, Asia, Africa and Oceania.

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