Sandvik (OTCMKTS:SDVKY) Downgraded to Hold Rating by Zacks Research

Sandvik (OTCMKTS:SDVKY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Citigroup lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Morgan Stanley lowered shares of Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Sandvik Stock Performance

Shares of OTCMKTS:SDVKY opened at $40.34 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $50.60 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.34 and a beta of 1.50. Sandvik has a 12 month low of $22.18 and a 12 month high of $44.53. The firm’s 50-day moving average is $41.08 and its 200 day moving average is $38.78.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Research analysts predict that Sandvik will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC lifted its holdings in 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 firm owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent SEC filing. 0.74% of the stock is 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.