Volkswagen AG (VLKAY) Lowered to “Hold” at Zacks Investment Research
Volkswagen AG (NASDAQ:VLKAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “VOLKSWAGEN-ADR is the largest automobile manufacturer in Europe. Their activities focus on the automotive market and they offer products and services along the entire automotive value chain. With nine independent brands, they are able to offer a unique range of models from the extremely efficient 3-litre car to the great sporting tradition of Bentley. While each of the brands has a distinct personality, it also benefits from its membership of the Volkswagen Group with its global manufacturing base “
VLKAY has been the topic of several other research reports. Jefferies Group LLC downgraded Volkswagen AG from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Sanford C. Bernstein restated a “market perform” rating on shares of Volkswagen AG in a research report on Wednesday.
Shares of Volkswagen AG (NASDAQ:VLKAY) opened at 34.11 on Friday. The firm has a 50-day moving average price of $31.59 and a 200-day moving average price of $31.38. Volkswagen AG has a 1-year low of $27.00 and a 1-year high of $34.12. The company has a market cap of $85.50 billion and a P/E ratio of 8.76.
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About Volkswagen AG
Volkswagen AG is engaged in developing vehicles and components for its brands. It also produces and sells vehicles, in particular passenger cars and light commercial vehicles for the Volkswagen Passenger Cars and Volkswagen Commercial Vehicles brands. The Passenger Cars segment cover the development of vehicles and engines, the production and sale of passenger cars, and the corresponding genuine parts business.
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