Sandvik (OTCMKTS:SDVKY) Rating Lowered to “Hold” at Zacks Research

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

SDVKY has been the topic of several other reports. Morgan Stanley downgraded shares of Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Citigroup cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Barclays restated an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Finally, Nordea Equity Research raised Sandvik to a “hold” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sandvik currently has a consensus rating of “Hold”.

Sandvik Price Performance

Shares of Sandvik stock opened at $40.34 on Monday. The firm has a market capitalization of $50.60 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.34 and a beta of 1.50. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Sandvik has a 12 month low of $22.18 and a 12 month high of $44.53. The business’s 50-day moving average price is $41.08 and its 200-day moving average price is $38.78.

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its position in Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,704 shares of the industrial products company’s stock after buying an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 0.74% of the company’s stock.

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.