Sandvik (OTCMKTS:SDVKY) Shares Gap Down – What’s Next?

Sandvik AB (OTCMKTS:SDVKY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $42.08, but opened at $39.36. Sandvik shares last traded at $39.28, with a volume of 4,171 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SDVKY. Nordea Equity Research raised Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Citigroup cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. The Goldman Sachs Group reiterated a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Finally, Morgan Stanley lowered Sandvik from an “overweight” rating to an “equal weight” rating in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sandvik currently has an average rating of “Hold”.

Sandvik Trading Down 1.9%

The stock’s fifty day simple moving average is $41.08 and its two-hundred day simple moving average is $38.78. The firm has a market cap of $49.65 billion, a PE ratio of 31.17, a PEG ratio of 1.34 and a beta of 1.50. The company has a quick ratio of 1.06, a current ratio of 1.96 and a debt-to-equity ratio of 0.36.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC raised its stake in Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent SEC filing. 0.74% of the stock is owned by institutional investors.

Sandvik Company Profile

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.