Sandvik AB (OTCMKTS:SDVKY) Receives Average Rating of “Hold” from Analysts

Sandvik AB (OTCMKTS:SDVKY) has received a consensus rating of “Hold” from the twelve analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of research firms have weighed in on SDVKY. Citigroup cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Kepler Capital Markets cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Finally, Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a report on Wednesday, April 15th.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC increased its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,489 shares of the industrial products company’s stock after purchasing an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik Price Performance

Shares of Sandvik stock opened at $38.49 on Friday. Sandvik has a twelve month low of $24.38 and a twelve month high of $44.53. The stock has a market cap of $48.28 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $39.25 and a 200 day moving average price of $40.08.

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.