AB Volvo (OTCMKTS:VLVLY) Sees Strong Trading Volume – Still a Buy?

AB Volvo (OTCMKTS:VLVLY) shares saw unusually-strong trading volume on Thursday. 584,471 shares traded hands during mid-day trading, an increase of 288% from the average daily volume of 150,520 shares. The stock last traded at $31.4210 and had previously closed at $31.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Erste Group Bank downgraded shares of AB Volvo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 21st. Zacks Research lowered shares of AB Volvo from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Three 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

AB Volvo Stock Performance

The stock has a market cap of $63.77 billion, a PE ratio of 15.37, a P/E/G ratio of 0.81 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average of $33.37 and a 200 day moving average of $34.76.

AB Volvo (OTCMKTS:VLVLY) last released its earnings results on Friday, October 23rd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. AB Volvo had a return on equity of 21.50% and a net margin of 8.12%. The firm had revenue of $12.04 billion during the quarter, compared to analyst estimates of $12.53 billion. Equities analysts predict that AB Volvo will post 2.11 EPS for the current fiscal year.

About AB Volvo

AB Volvo is a Sweden-based manufacturer of commercial vehicles and transportation-related products. Founded in 1927 and headquartered in Gothenburg, the company develops and sells trucks, buses, construction equipment, and marine and industrial engines. AB Volvo is separate from Volvo Cars, which became an independent company in 1999.

The company’s commercial vehicle operations include heavy-duty, medium-duty, and light-duty trucks sold under brands such as Volvo Trucks, Mack Trucks, Renault Trucks, and UD Trucks.