Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High – Time to Buy?

Sandvik AB (OTCMKTS:SDVKY)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $26.72 and last traded at $26.54, with a volume of 15300 shares traded. The stock had previously closed at $26.41.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SDVKY shares. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sandvik currently has an average rating of “Moderate Buy”.

Sandvik Trading Up 0.5%

The business has a fifty day simple moving average of $24.87 and a 200-day simple moving average of $22.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 1.62. The firm has a market cap of $33.29 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.79 and a beta of 1.56.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Wednesday, July 16th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $29.43 billion. Sandvik had a return on equity of 16.54% and a net margin of 11.89%. As a group, equities analysts forecast that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandvik

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Sandvik by 88.9% in the first quarter. GAMMA Investing LLC now owns 5,546 shares of the industrial products company’s stock valued at $117,000 after buying an additional 2,610 shares during the period. Yousif Capital Management LLC increased its stake in shares of Sandvik by 15.9% in the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after buying an additional 3,030 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Sandvik by 13.9% in the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock valued at $788,000 after buying an additional 4,562 shares during the period. Institutional investors and hedge funds own 0.74% of the company’s stock.

About Sandvik

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.