Sandvik (OTCMKTS:SDVKY) Stock Rating Lowered by Zacks Research

by · The Cerbat Gem

Sandvik (OTCMKTS:SDVKY – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also commented on SDVKY. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Barclays reissued an “overweight” rating on shares of Sandvik in a research note on Wednesday, February 25th. Finally, Citigroup lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Check Out Our Latest Stock Report on Sandvik

Sandvik Stock Down 4.1%

SDVKY opened at $40.34 on Monday. The company has a fifty day moving average of $41.08 and a two-hundred day moving average of $38.78. The stock has a market capitalization of $50.60 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.34 and a beta of 1.50. Sandvik has a fifty-two week low of $22.18 and a fifty-two week high of $44.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.96.

Sandvik (OTCMKTS:SDVKY – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. Sandvik had a return on equity of 16.92% and a net margin of 12.16%.The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.43 billion. On average, research analysts expect that Sandvik will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC grew its holdings in Sandvik AB (OTCMKTS:SDVKY – Free Report) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.74% of the company’s stock.

About Sandvik

(Get Free Report)

Sandvik (OTCMKTS: SDVKY) is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik’s core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.

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