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

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

Several other research analysts also recently commented on the stock. Morgan Stanley downgraded shares of Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Nordea Equity Research raised shares of Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, April 23rd. Citigroup downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Sandvik Trading Down 2.6%

SDVKY stock opened at $41.40 on Monday. The company has a market capitalization of $51.93 billion, a PE ratio of 32.60, a P/E/G ratio of 1.45 and a beta of 1.52. Sandvik has a 12 month low of $20.40 and a 12 month high of $44.53. The firm’s 50-day moving average is $40.80 and its 200 day moving average is $35.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.94 and a quick ratio of 1.02.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 17.64%. On average, research analysts anticipate that Sandvik will post 1.76 EPS for the current year.

Institutional Trading of Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its stake in Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the 4th quarter, according to its most recent Form 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 SEC filing. Institutional investors and hedge funds own 0.74% of the company’s stock.

About Sandvik

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.