Sandvik (OTCMKTS:SDVKY) Shares Gap Up – Here’s What Happened

Sandvik AB (OTCMKTS:SDVKY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $37.99, but opened at $40.22. Sandvik shares last traded at $39.92, with a volume of 3,717 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SDVKY shares. Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Morgan Stanley lowered 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. Citigroup lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, April 23rd. Two 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 issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Sandvik Price Performance

The company has a quick ratio of 1.06, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average is $40.96 and its two-hundred day moving average is $38.15. The company has a market capitalization of $50.58 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.43 billion. As a group, analysts predict that Sandvik AB will post 1.76 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. 0.74% of the stock is currently owned by hedge funds and other 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.