Sandvik AB (OTCMKTS:SDVKY) Given Consensus Rating of “Hold” by Analysts

Shares of Sandvik AB (OTCMKTS:SDVKY) have been given an average recommendation of “Hold” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company.

Several equities analysts have recently issued reports on SDVKY shares. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Morgan Stanley lowered shares of Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. Finally, Citigroup lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th.

Sandvik Trading Down 4.7%

Shares of OTCMKTS SDVKY traded down $2.00 during trading hours on Tuesday, hitting $40.20. The company’s stock had a trading volume of 25,261 shares, compared to its average volume of 134,401. Sandvik has a 12 month low of $23.22 and a 12 month high of $44.53. The stock has a market cap of $50.43 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.30 and a beta of 1.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.96. The business has a 50-day simple moving average of $40.63 and a 200-day simple moving average of $39.30.

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

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC lifted its stake in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,704 shares of the industrial products company’s stock after purchasing 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 and Exchange Commission (SEC). 0.74% of the stock is currently owned by institutional investors.

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.