AB Volvo (OTCMKTS:VLVLY) Downgraded by Citigroup to “Hold”

Citigroup cut shares of AB Volvo (OTCMKTS:VLVLY) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks reports.

A number of other brokerages also recently weighed in on VLVLY. Zacks Research downgraded AB Volvo from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Erste Group Bank cut AB Volvo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

AB Volvo Price Performance

Shares of OTCMKTS VLVLY opened at $31.30 on Monday. AB Volvo has a twelve month low of $26.77 and a twelve month high of $39.62. The firm has a fifty day simple moving average of $33.27 and a 200 day simple moving average of $34.75. The company has a market capitalization of $63.65 billion, a PE ratio of 15.34, 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.

AB Volvo (OTCMKTS:VLVLY) last issued its quarterly earnings results on Friday, October 23rd. The company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $12.04 billion for the quarter, compared to analysts’ expectations of $12.53 billion. AB Volvo had a net margin of 8.12% and a return on equity of 21.50%. On average, sell-side analysts forecast that AB Volvo will post 2.11 EPS for the current year.

AB Volvo Company Profile

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.