Volvo Rating Increased to Overweight at HSBC (VOLVY)
Volvo (NASDAQ:VOLVY) was upgraded by research analysts at HSBC from a “neutral” rating to an “overweight” rating in a report released on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Kepler Capital Markets downgraded shares of Volvo from a “buy” rating to a “hold” rating in a research note to investors on Thursday, December 5th. Separately, analysts at Morgan Stanley downgraded shares of Volvo to an “underweight” rating in a research note to investors on Friday, November 29th. Finally, analysts at Barclays downgraded shares of Volvo from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold”.
Shares of Volvo (NASDAQ:VOLVY) traded up 1.90% during mid-day trading on Thursday, hitting $13.92. The stock had a trading volume of 38,221 shares. Volvo has a 52-week low of $12.17 and a 52-week high of $16.33. The stock has a 50-day moving average of $12.88 and a 200-day moving average of $13.94. The company has a market cap of $28.230 billion and a price-to-earnings ratio of 48.61.
AB Volvo is a supplier of commercial transport solutions providing products, such as trucks, buses, construction equipment, engines and drive systems for boats and industrial applications, as well as aircraft engine components.
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