Volkswagen (OTCMKTS:VWAGY) Raised to Buy at Zacks Investment Research

Volkswagen (OTCMKTS:VWAGYGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, reports. The brokerage presently has a $24.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.79% from the company’s previous close.

According to Zacks, “VOLKSWAGEN-ADR is the largest automobile manufacturer in Europe. Their activities focus on the automotive market and they offer products and services along the entire automotive value chain. With nine independent brands, they are able to offer a unique range of models from the extremely efficient 3-litre car to the great sporting tradition of Bentley. While each of the brands has a distinct personality, it also benefits from its membership of the Volkswagen Group with its global manufacturing base “

VWAGY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Volkswagen from €210.00 ($225.81) to €230.00 ($247.31) and gave the company a “buy” rating in a research note on Wednesday, March 23rd. Credit Suisse Group initiated coverage on shares of Volkswagen in a report on Thursday, February 17th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $102.67.

Shares of Volkswagen stock opened at $22.06 on Friday. The company has a market capitalization of $110.59 billion, a P/E ratio of 6.28, a P/E/G ratio of 0.58 and a beta of 1.61. The company has a fifty day moving average of $23.85 and a 200 day moving average of $28.21. Volkswagen has a fifty-two week low of $19.67 and a fifty-two week high of $38.35.

Volkswagen (OTCMKTS:VWAGYGet Rating) last announced its earnings results on Tuesday, March 15th. The company reported $0.91 earnings per share (EPS) for the quarter. Volkswagen had a net margin of 5.93% and a return on equity of 10.48%. The firm had revenue of $72.74 billion for the quarter. As a group, analysts anticipate that Volkswagen will post 3.32 earnings per share for the current fiscal year.

Volkswagen Company Profile (Get Rating)

Volkswagen AG manufactures and sells automobiles primarily in Europe, North America, South America, and the Asia-Pacific. The company operates in four segments: Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars and Light Commercial Vehicles segment develops vehicles, engines, and vehicle software; and light commercial vehicles; and produces and sells passenger cars and related parts.

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