Stephens assumed coverage on shares of VOLVO AB/ADR (OTCMKTS:VLVLY) in a research report sent to investors on Wednesday morning, The Fly reports. The brokerage issued an equal weight rating on the stock.
Other research analysts have also recently issued research reports about the company. HSBC reaffirmed a hold rating on shares of VOLVO AB/ADR in a research note on Monday, July 22nd. ValuEngine cut VOLVO AB/ADR from a hold rating to a sell rating in a research note on Thursday, August 1st. Royal Bank of Canada initiated coverage on VOLVO AB/ADR in a research note on Tuesday, June 4th. They set a sector perform rating for the company. Finally, BNP Paribas initiated coverage on VOLVO AB/ADR in a research note on Tuesday. They set an underperform rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $17.00.
VLVLY stock traded down $0.11 during trading hours on Wednesday, hitting $13.14. 38,418 shares of the stock traded hands, compared to its average volume of 24,543. The firm has a 50-day moving average of $15.19. VOLVO AB/ADR has a one year low of $12.06 and a one year high of $18.29. The firm has a market capitalization of $26.57 billion, a P/E ratio of 7.78, a P/E/G ratio of 1.50 and a beta of 1.51.
About VOLVO AB/ADR
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, Africa, and Oceania. The company offers trucks for long-haulage, construction, and distribution purposes under the Volvo, UD Trucks, Renault Trucks, Mack, Eicher, and Dongfeng brands; and city and intercity buses, coaches, and bus chassis under the Volvo, Prevost, Nova Bus, and UD Bus brands.
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