SANDVIK AB/ADR (OTCMKTS:SDVKY) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of SANDVIK AB/ADR (OTCMKTS:SDVKY) from a sell rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. They currently have $20.00 target price on the industrial products company’s stock.
According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “
Separately, ValuEngine upgraded WPP from a sell rating to a hold rating in a report on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $20.00.
SANDVIK AB/ADR (OTCMKTS:SDVKY) last posted its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The company had revenue of $2.73 billion for the quarter. SANDVIK AB/ADR had a return on equity of 23.82% and a net margin of 12.90%. On average, research analysts forecast that SANDVIK AB/ADR will post 1.2 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of SDVKY. Quadrant Capital Group LLC increased its holdings in shares of SANDVIK AB/ADR by 39.9% in the 1st quarter. Quadrant Capital Group LLC now owns 15,533 shares of the industrial products company’s stock valued at $249,000 after purchasing an additional 4,430 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of SANDVIK AB/ADR by 9.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,322,376 shares of the industrial products company’s stock valued at $21,548,000 after purchasing an additional 109,485 shares during the period. Finally, Scout Investments Inc. increased its holdings in shares of SANDVIK AB/ADR by 3.6% in the 2nd quarter. Scout Investments Inc. now owns 212,125 shares of the industrial products company’s stock valued at $3,900,000 after purchasing an additional 7,402 shares during the period.
About SANDVIK AB/ADR
Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal cutting, and materials technology worldwide. The company offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor made tools and inserts, and tooling systems.
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