Sandvik (OTCMKTS:SDVKY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Sandvik (OTCMKTS:SDVKY) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. Citigroup cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. The Goldman Sachs Group restated a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Thursday, April 23rd. Finally, Morgan Stanley cut shares of Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Sandvik Trading Down 2.6%

OTCMKTS SDVKY opened at $41.40 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.94 and a quick ratio of 1.02. The firm’s fifty day moving average price is $40.80 and its 200 day moving average price is $35.96. The company has a market capitalization of $51.93 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth 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.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly 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 firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 17.64%. On average, sell-side analysts expect that Sandvik will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. Salomon & Ludwin LLC boosted its stake in Sandvik AB (OTCMKTS:SDVKY) by 3,795.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 857 shares of the industrial products company’s stock after purchasing an additional 835 shares during the quarter. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 as of its most recent filing with the SEC. 0.74% of the stock is currently owned by institutional investors and hedge funds.

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.