Volvo AB Series B

Volvo is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. Co.'s activities are organized into six areas: Group Trucks, which sells and markets trucks under Eicher, Mack, Renault Trucks, UD Trucks and Volvo brands; Construction Equipment, which includes equipment for construction and related industries; Buses, which includes buses and bus chassis for city, intercity and coach traffic; Volvo Penta, which manufactures engines and drive systems for boats and commercial craft; Governmental Sales, which manufactures special-purpose vehicles; and Volvo Financial Services, providing customer financing and leasing, dealer financing and fee based products.
  • TickerVOLV B
  • ISINSE0000115446
  • ExchangeNasdaq Nordic Stockholm
  • SectorIndustrial Engineering
  • CountrySweden

Analysts

1 director bought

A director at Ab Volvo bought 500,000 shares at 126.894SEK and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board m...

Ibrahim Firdaus

Volvo

Christer Magnergård

Volvo (Buy, TP: SEK168.00) - Time for the final exam

Since new management came on board in 2015, Volvo has improved on a yearly basis looking at almost every metric, although it has benefitted from rising end-markets and FX tailwinds. It is now time for the management team’s final exam to show the quality of the company has improved. Over the next 12 months we should see falling volumes for Trucks and VCE. Volvo needs to prove that it can manage the downturn well; we believe it will. BUY reiterated with a trimmed target price of SEK168 (172).

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Alexander Aukner ...
  • Christer Magnergård
  • Eivind Sars Veddeng
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Christer Magnergård

Volvo (Buy, TP: SEK168.00) - Time for the final exam

Since new management came on board in 2015, Volvo has improved on a yearly basis looking at almost every metric, although it has benefitted from rising end-markets and FX tailwinds. It is now time for the management team’s final exam to show the quality of the company has improved. Over the next 12 months we should see falling volumes for Trucks and VCE. Volvo needs to prove that it can manage the downturn well; we believe it will. BUY reiterated with a trimmed target price of SEK168 (172).

Christer Magnergård

Volvo (Buy, TP: SEK172.00) - Strong Q2e, uneventful CMD

The Capital Markets Day in Gothenburg was relatively uneventful, but emphasised Volvo´s ambition to show improved resilience in downturns and that it is well positioned to take advantage of new technologies. Ahead of Q2, we remain upbeat and expect EBIT to be 13% above SME consensus. We reiterate our BUY recommendation and SEK172 target price.

Christer Magnergård

Volvo (Buy, TP: SEK172.00) - A new level

Reaching close to a 12% EBIT adj. quarterly margin, as Volvo did in Q1, was something that looked unreachable a couple of years ago. A strong management team, clear focus, and help from a strong market and FX provided the drivers. Although we still expect declining volumes in 2020, we now see double-digit EBIT margins in the sector downturn. As a result, we have raised our 2019e adj. EBIT by 13%, and our target price to SEK172 (160), and reiterate our BUY recommendation.

Christer Magnergård

Volvo (Buy, TP: SEK160.00) - E-commerce as demand driver

In this report, we have analysed the impact of e-commerce on demand for heavy-duty trucks. We conclude that the demand trend should see faster growth in the coming years, which should result in higher troughs and peaks in coming cycles. Near-term, we expect a strong Q1 driven by better internal performance, positive pricing, and the weak SEK. We keep our BUY recommendation and have raised our target price to SEK160 (150).

Ibrahim Firdaus

Volvo

1 director bought

A director at Ab Volvo bought 500,000 shares at 126.894SEK and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board m...

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Alexander Aukner ...
  • Christer Magnergård
  • Eivind Sars Veddeng
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Mattias Holmberg
  • Ole-Andreas Krohn

Northern Lights

Christer Magnergård ...
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Montgomery
  • Niclas Gehin
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Ibrahim Firdaus

Volvo

VOLVO AB with less fundamental stars is reduced to Neutral

VOLVO AB (SE), a company active in the Commercial Vehicles & Trucks industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 3, 2019, the closing price was SEK 148.90 and its expected value was estimated at SEK 14...

Ibrahim Firdaus

Volvo

Ibrahim Firdaus

Volvo

Ibrahim Firdaus

Volvo

Volvo April 03th, 2019

In general, Volvo is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 14.1-14.10, the (re-)election of the board of directors is proposed.In light of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Ms. Martina Merz (ITEM 14.7). Under ITEM 18, the board of directors seeks approval of the Company's executive remuneration guidelines. Although no (material) changes are proposed, ECGS is missing an actual LT component (with a performance measurement period of at least...

Volvo – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 05/04/2018

In general, Volvo is in compliance with the Swedish regulations relating the organisation and procedures of the Annual General Meeting. Under ITEM 13, the nomination committee proposes to increase the remuneration of the board of directors by about 3.0%. In ECGS' view the current fees are already at the upper level of Swedish market practice for a company with the size and complexity ofVolvo and it therefore does not approve of any increases without adequate justification. Since the proposal is not adequately justified, ECGS recommends to vote OPPOSE. Under ITEMS 14.1-14.10, the (re-)electio...

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