Volvo (OTCMKTS:VLVLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $22.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.58% from the company’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. “
Volvo (OTCMKTS VLVLY) traded down $0.44 during mid-day trading on Wednesday, hitting $19.20. 7,177 shares of the stock were exchanged, compared to its average volume of 12,134. The company has a market capitalization of $37,571.68, a PE ratio of 15.87, a P/E/G ratio of 0.80 and a beta of 1.10. Volvo has a 52-week low of $12.96 and a 52-week high of $20.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.09 and a quick ratio of 0.79.
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AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, North America, South America, Asia, and internationally. The company offers trucks for long-haulage, construction, and distribution purposes under the Volvo, UD, Renault Trucks, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and bus chassis under the Volvo, Prevost, Nova Bus, UD Bus, and Sunwin brands.
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