Volvo Ab (VLVLY) Upgraded to “Buy” at Zacks Investment Research
Volvo Ab (NASDAQ:VLVLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $22.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.15% from the stock’s previous close.
According to Zacks, “AB Volvo is the parent company of the Volvo Group. The Volvo Group is a manufacturer of trucks, buses, construction equipment, diesel engines, and marine and industrial engines. The Volvo Group also provides solutions for financing and service. Its segments include Trucks, Construction Equipment, Buses, Volvo Penta, Group functions & Other, and Financial Services. The Company’s brand portfolio consists of Volvo, Volvo Penta, UD, Terex Trucks, Renault Trucks, Prevost, Nova Bus and Mack. In addition to vehicles and machines, its offering includes a range of services, such as insurance, rental services, spare parts, preventive maintenance, service agreements, assistance services and information technology (IT) services. Its product range is divided into Vehicles and Services. The sale of new vehicles, machinery and engines comprise Vehicles, as well as the sale of used vehicles and machines, trailers, superstructures and special vehicles. Its Services include the sale of spare parts. “
Separately, DNB Markets upgraded shares of Volvo Ab from a “hold” rating to a “buy” rating in a report on Friday, September 1st.
Shares of Volvo Ab (VLVLY) traded up 0.000% during mid-day trading on Thursday, reaching $19.106. 127 shares of the company’s stock traded hands. The firm has a market capitalization of $38.82 billion and a PE ratio of 17.089. Volvo Ab has a 12-month low of $10.09 and a 12-month high of $19.64.
Volvo Ab (NASDAQ:VLVLY) last issued its quarterly earnings data on Wednesday, July 19th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $9.49 billion.
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