AB Volvo (OTCMKTS:VLVLY) Sees Large Volume Increase – What’s Next?

AB Volvo (OTCMKTS:VLVLY) saw unusually-high trading volume on Wednesday. Approximately 966,283 shares were traded during trading, an increase of 513% from the average daily volume of 157,683 shares. The stock last traded at $32.09 and had previously closed at $31.2060.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Erste Group Bank downgraded AB Volvo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. Zacks Research cut AB Volvo from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, Citigroup cut AB Volvo from a “strong-buy” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, AB Volvo presently has a consensus rating of “Hold”.

AB Volvo Trading Down 1.6%

The stock has a market cap of $63.89 billion, a PE ratio of 15.40, a P/E/G ratio of 0.83 and a beta of 1.24. The business’s fifty day moving average is $32.97 and its 200 day moving average is $34.71. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 0.85.

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

About AB Volvo

AB Volvo, commonly known as the Volvo Group, is a Swedish manufacturer of commercial vehicles and industrial equipment. Founded in Gothenburg in 1927, the company operates separately from Volvo Cars.

Its products include trucks, buses, construction equipment, and engines for marine and industrial applications. The group also provides aftermarket services, such as maintenance, repairs, and parts, as well as financing and other customer services.

AB Volvo serves customers across markets worldwide through a network of manufacturing, sales, and service operations.